Perfected security interest

Perfected security interest,

Definition of Perfected security interest:

  1. Security interest in an asset (mortgaged as a collateral) protected from claims by other parties. A lien is perfected by registering it with appropriate statutory authority so that it is made legally enforceable and any subsequent claim on that asset is given a junior status. Also called perfected lien.

Meaning of Perfected security interest & Perfected security interest Definition