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Statute
is a formal written law enacted by a legislative body at the local, state, or federal level.
Perfected Secured Interest
A legal condition in which a creditor has established a priority claim on a debtor's collateral, making their claim stronger against third parties.
Unperfected Secured Interest
A security interest in collateral that has not been publicly filed or recorded, potentially making it subordinate to other claims.
Artisan's Lien
A legal right granted to artisans or mechanics over the property they have improved or repaired, securing payment for their work.
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