A security interest is perfected on creation of the security instrument and attaches upon either registration or possession by the creditor.

Question

Quizplus · Accepted Answer

A security interest is perfected when it has attached and when all the necessary steps required for perfection have been taken, which could include registration or possession by the creditor, but perfection does not occur merely upon the creation of the security instrument.

A Security Interest Is Perfected on Creation of the Security