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in this video i am going to talk to you about purchase money security interest or pimsies under article 9 of the uniform commercial code a purchase money security interest or pimsy is a security interest in which an obligor in whole or in part gives money to a cr to a debtor to acquire collateral or they extend value or credit to a debt or to acquire rights or interest inco in collateral a purchase money security interest is a super priority security interest a purchase money security interest or pimsy which will trump the security interests of other creditors with perfected security interests in the same collateral to give you an example there are a few situations where these interests attach number one a purchase money security interest automatically attaches to consumer goods so when a debtor gets or receives value and whole or in part to acquire rights or interests in collateral that are in the nature of consumer goods these interests automatically perfect themselves the reason bei
