Purchase Money Security Instruments in Missouri
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Revision as of 17:54, 1 August 2018 by Davidjenkins (talk | contribs) (Created page with "Purchase Money Security Instruments have been recognized in Missouri as having priority over all other liens for over the last 100 years. Language in a recent case, however,...")
Purchase Money Security Instruments have been recognized in Missouri as having priority over all other liens for over the last 100 years. Language in a recent case, however, could suggest that the courts will not allow a PMSI to take priority over "statutory liens" such as Mechanic's Liens. To date, only Mechanic's liens have been recognized as an exception to the traditional rule.
- Demeter v. Wilcox, 22 S.W. 613 (Mo. 1893)
- A PMM will take priority of previously recorded judgments. Sutton Funding, LLC v. Mueller, 278 S.W.3d 702, 704 (Mo. Ct. App. 2009)
- A PMM will not, however, take priority over a statutory lien like a Mechanic's Lien. Bob DeGeorge Assocs., Inc. v. Hawthorn Bank, 377 S.W.3d 592, 596 (Mo. 2012)
