Priority Between a Secured Party and a Party with a Lien: Discussions in Secured Transactions Podcast

This podcast discusses the priority between a secured party and a party with a lien, including a judicial lien creditor, a creditor with a lien arising by operation of law, a creditor with an agricultural lien, and the IRS with a tax lien. The podcast discusses the relationship between Bankruptcy Code § 544(a), often referred to as “the strong arm clause, and a PMSI (Purchase Money Security Interest).

Learning Outcomes

On completion of the podcast, the student will be able to:

1.    Identify a judicial lien creditor. 

2.    Identify a creditor with a lien arising by operation of law.

3.    Identify, a creditor with an agricultural lien.

4.    Explain when the IRS will levy a tax lien.

5.    Determine whether the lien or a security interest has priority in the collateral.