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Can you summarize MNST 336.9-334?
UNIFORM COMMERCIAL CODE > PRIORITY OF SECURITY INTERESTS IN FIXTURES AND CROPS.
Short Summary
This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the priority of security interests in fixtures and crops. It outlines the rules regarding security interests in goods that are fixtures or become fixtures, as well as the subordination of security interests to conflicting interests of encumbrancers or owners of related real property. The document also covers the priority of security interests in fixtures over interests in real property, based on factors such as fixture filing, possession, and consent. Additionally, it addresses the priority of construction mortgages and security interests in crops growing on real property. Overall, this document provides guidance on the priority of security interests in relation to fixtures and crops in various scenarios.
Whom does it apply to?
Creditors, encumbrancers, owners of real property, debtors
What does it govern?
Priority of security interests in fixtures and crops
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota