{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-317.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-317.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-317.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-317.html"}],"law_id":62358,"edition_id":1,"section_id":62358,"structure_id":14251,"section_number":"8.9A-317","catch_line":"Interests that take priority over or take free of security interest or agricultural lien","history":"1964, c. 219, \u00a7 8.9-301; 1973, c. 509; 1983, c. 204; 1991, c. 536, \u00a7 8.2A-307; 1996, c. 216; 2000, c. 1007; 2004, c. 200; 2012, c. 155; 2024, c. 652.","full_text":"a\n\nConflicting security interests and rights of lien creditors. A security interest or agricultural lien is subordinate to the rights of:1\n\na person entitled to priority under § 8.9A-322; and2\n\nexcept as otherwise provided in subsection (e), a person that becomes a lien creditor before the earlier of the time:A\n\nthe security interest or agricultural lien is perfected; orB\n\none of the conditions specified in subdivision (b)(3) of § 8.9A-203 is met and a financing statement covering the collateral is filed.b\n\nBuyers that receive delivery. Except as otherwise provided in subsection (e), a buyer, other than a secured party, of goods, instruments, tangible documents, or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.c\n\nLessees that receive delivery. Except as otherwise provided in subsection (e), a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.d\n\nLicensees and buyers of certain collateral. Subject to subsections (f) through (i), a licensee of a general intangible or a buyer, other than a secured party, of collateral other than electronic money, goods, instruments, tangible documents, or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.e\n\nPurchase-money security interest. Except as otherwise provided in §§ 8.9A-320 and 8.9A-321, if a person files a financing statement with respect to a purchase-money security interest before or within twenty days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditor which arise between the time the security interest attaches and the time of filing.f\n\nBuyers of chattel paper. A buyer, other than a secured party, of chattel paper takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and:1\n\nreceives delivery of each authoritative tangible copy of the record evidencing the chattel paper; and2\n\nif each authoritative electronic copy of the record evidencing the chattel paper can be subjected to control under § 8.9A-105, obtains control of each authoritative electronic copy.g\n\nBuyers of electronic documents. A buyer of an electronic document takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and, if each authoritative electronic copy of the document can be subjected to control under § 8.7-106, obtains control of each authoritative electronic copy.h\n\nBuyers of controllable electronic records. A buyer of a controllable electronic record takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and obtains control of the controllable electronic record.i\n\nBuyers of controllable accounts and controllable payment intangibles. A buyer, other than a secured party, of a controllable account or a controllable payment intangible takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and obtains control of the controllable account or controllable payment intangible.","order_by":null,"text":{"0":{"id":227445,"text":"Conflicting security interests and rights of lien creditors. A security interest or agricultural lien is subordinate to the rights of:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":227446,"text":"a person entitled to priority under § 8.9A-322; and","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":227447,"text":"except as otherwise provided in subsection (e), a person that becomes a lien creditor before the earlier of the time:","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"A"},"3":{"id":227448,"text":"the security interest or agricultural lien is perfected; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"a2","next_prefix":"B"},"4":{"id":227449,"text":"one of the conditions specified in subdivision (b)(3) of § 8.9A-203 is met and a financing statement covering the collateral is filed.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"b"},"5":{"id":227450,"text":"Buyers that receive delivery. Except as otherwise provided in subsection (e), a buyer, other than a secured party, of goods, instruments, tangible documents, or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"B","next_prefix":"c"},"6":{"id":227451,"text":"Lessees that receive delivery. Except as otherwise provided in subsection (e), a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b","next_prefix":"d"},"7":{"id":227452,"text":"Licensees and buyers of certain collateral. Subject to subsections (f) through (i), a licensee of a general intangible or a buyer, other than a secured party, of collateral other than electronic money, goods, instruments, tangible documents, or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c","next_prefix":"e"},"8":{"id":227453,"text":"Purchase-money security interest. Except as otherwise provided in §§ 8.9A-320 and 8.9A-321, if a person files a financing statement with respect to a purchase-money security interest before or within twenty days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditor which arise between the time the security interest attaches and the time of filing.","type":"section","prefixes":["e"],"prefix":"e","entire_prefix":"e","prefix_anchor":"e","level":1,"prior_prefix":"d","next_prefix":"f"},"9":{"id":227454,"text":"Buyers of chattel paper. A buyer, other than a secured party, of chattel paper takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and:","type":"section","prefixes":["f"],"prefix":"f","entire_prefix":"f","prefix_anchor":"f","level":1,"prior_prefix":"e","next_prefix":"f1"},"10":{"id":227455,"text":"receives delivery of each authoritative tangible copy of the record evidencing the chattel paper; and","type":"section","prefixes":["f","1"],"prefix":"1","entire_prefix":"f1","prefix_anchor":"f1","level":2,"prior_prefix":"f","next_prefix":"f2"},"11":{"id":227456,"text":"if each authoritative electronic copy of the record evidencing the chattel paper can be subjected to control under § 8.9A-105, obtains control of each authoritative electronic copy.","type":"section","prefixes":["f","2"],"prefix":"2","entire_prefix":"f2","prefix_anchor":"f2","level":2,"prior_prefix":"f1","next_prefix":"g"},"12":{"id":227457,"text":"Buyers of electronic documents. A buyer of an electronic document takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and, if each authoritative electronic copy of the document can be subjected to control under § 8.7-106, obtains control of each authoritative electronic copy.","type":"section","prefixes":["g"],"prefix":"g","entire_prefix":"g","prefix_anchor":"g","level":1,"prior_prefix":"f2","next_prefix":"h"},"13":{"id":227458,"text":"Buyers of controllable electronic records. A buyer of a controllable electronic record takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and obtains control of the controllable electronic record.","type":"section","prefixes":["h"],"prefix":"h","entire_prefix":"h","prefix_anchor":"h","level":1,"prior_prefix":"g","next_prefix":"i"},"14":{"id":227459,"text":"Buyers of controllable accounts and controllable payment intangibles. A buyer, other than a secured party, of a controllable account or a controllable payment intangible takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and obtains control of the controllable account or controllable payment intangible.","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"h"}},"ancestry":[{"id":14251,"edition_id":1,"name":"Priority","identifier":"3","label":"subpart","depth":3,"order_by":1,"parent_id":13858,"metadata":{},"date_created":"2026-06-26 03:47:27","date_modified":"2026-06-26 03:47:27","permalink":{"id":284025,"object_type":"structure","relational_id":14251,"identifier":"3","token":"8.9A\/3\/3","url":"\/8.9A\/3\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13858,"edition_id":1,"name":"Perfection and Priority","identifier":"3","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:46:06","date_modified":"2026-06-26 03:46:06","permalink":{"id":283943,"object_type":"structure","relational_id":13858,"identifier":"3","token":"8.9A\/3","url":"\/8.9A\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13277,"edition_id":1,"name":"Commercial Code \u2014 Secured Transactions","identifier":"8.9A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283833,"object_type":"structure","relational_id":13277,"identifier":"8.9A","token":"8.9A","url":"\/8.9A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":62358,"structure_id":14251,"section_number":"8.9A-317","catch_line":"Interests that take priority over or take free of security interest or agricultural lien","url":"\/8.9A-317\/","token":"8.9A\/3\/3\/8.9A-317","metadata":false},{"id":78831,"structure_id":14251,"section_number":"8.9A-318","catch_line":"No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers","url":"\/8.9A-318\/","token":"8.9A\/3\/3\/8.9A-318","metadata":false},{"id":70155,"structure_id":14251,"section_number":"8.9A-319","catch_line":"Rights and title of consignee with respect to creditors and purchasers","url":"\/8.9A-319\/","token":"8.9A\/3\/3\/8.9A-319","metadata":false},{"id":62582,"structure_id":14251,"section_number":"8.9A-320","catch_line":"Buyer of goods","url":"\/8.9A-320\/","token":"8.9A\/3\/3\/8.9A-320","metadata":false},{"id":59162,"structure_id":14251,"section_number":"8.9A-321","catch_line":"Licensee of general intangible and lessee of goods in ordinary course of business","url":"\/8.9A-321\/","token":"8.9A\/3\/3\/8.9A-321","metadata":false},{"id":61423,"structure_id":14251,"section_number":"8.9A-322","catch_line":"Priorities among conflicting security interests in and agricultural liens on same collateral","url":"\/8.9A-322\/","token":"8.9A\/3\/3\/8.9A-322","metadata":false},{"id":65781,"structure_id":14251,"section_number":"8.9A-323","catch_line":"Future advances","url":"\/8.9A-323\/","token":"8.9A\/3\/3\/8.9A-323","metadata":false},{"id":72557,"structure_id":14251,"section_number":"8.9A-324","catch_line":"Priority of purchase-money security interests","url":"\/8.9A-324\/","token":"8.9A\/3\/3\/8.9A-324","metadata":false},{"id":61420,"structure_id":14251,"section_number":"8.9A-325","catch_line":"Priority of security interests in transferred collateral","url":"\/8.9A-325\/","token":"8.9A\/3\/3\/8.9A-325","metadata":false},{"id":62923,"structure_id":14251,"section_number":"8.9A-326","catch_line":"Priority of security interests created by new debtor","url":"\/8.9A-326\/","token":"8.9A\/3\/3\/8.9A-326","metadata":false},{"id":66791,"structure_id":14251,"section_number":"8.9A-326.1","catch_line":"Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible","url":"\/8.9A-326.1\/","token":"8.9A\/3\/3\/8.9A-326.1","metadata":false},{"id":71092,"structure_id":14251,"section_number":"8.9A-327","catch_line":"Priority of security interests in deposit account","url":"\/8.9A-327\/","token":"8.9A\/3\/3\/8.9A-327","metadata":false},{"id":71019,"structure_id":14251,"section_number":"8.9A-328","catch_line":"Priority of security interests in investment property","url":"\/8.9A-328\/","token":"8.9A\/3\/3\/8.9A-328","metadata":false},{"id":66602,"structure_id":14251,"section_number":"8.9A-329","catch_line":"Priority of security interests in letter-of-credit right","url":"\/8.9A-329\/","token":"8.9A\/3\/3\/8.9A-329","metadata":false},{"id":62875,"structure_id":14251,"section_number":"8.9A-330","catch_line":"Priority of purchaser of chattel paper or instrument","url":"\/8.9A-330\/","token":"8.9A\/3\/3\/8.9A-330","metadata":false},{"id":66143,"structure_id":14251,"section_number":"8.9A-331","catch_line":"Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments and securities under other titles, priority of interests in financial assets and security entitlements and protection against assertion of claims under Titles 8.8A and 8.12","url":"\/8.9A-331\/","token":"8.9A\/3\/3\/8.9A-331","metadata":false},{"id":59890,"structure_id":14251,"section_number":"8.9A-332","catch_line":"Transfer of money, transfer of funds from deposit account","url":"\/8.9A-332\/","token":"8.9A\/3\/3\/8.9A-332","metadata":false},{"id":79779,"structure_id":14251,"section_number":"8.9A-333","catch_line":"Priority of certain liens arising by operation of law","url":"\/8.9A-333\/","token":"8.9A\/3\/3\/8.9A-333","metadata":false},{"id":71252,"structure_id":14251,"section_number":"8.9A-334","catch_line":"Priority of security interests in fixtures and crops","url":"\/8.9A-334\/","token":"8.9A\/3\/3\/8.9A-334","metadata":false},{"id":66095,"structure_id":14251,"section_number":"8.9A-335","catch_line":"Accessions","url":"\/8.9A-335\/","token":"8.9A\/3\/3\/8.9A-335","metadata":false},{"id":80265,"structure_id":14251,"section_number":"8.9A-336","catch_line":"Commingled goods","url":"\/8.9A-336\/","token":"8.9A\/3\/3\/8.9A-336","metadata":false},{"id":55482,"structure_id":14251,"section_number":"8.9A-337","catch_line":"Priority of security interests in goods covered by certificate of title","url":"\/8.9A-337\/","token":"8.9A\/3\/3\/8.9A-337","metadata":false},{"id":72213,"structure_id":14251,"section_number":"8.9A-338","catch_line":"Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information","url":"\/8.9A-338\/","token":"8.9A\/3\/3\/8.9A-338","metadata":false},{"id":61256,"structure_id":14251,"section_number":"8.9A-339","catch_line":"Priority subject to subordination","url":"\/8.9A-339\/","token":"8.9A\/3\/3\/8.9A-339","metadata":false}],"next_section":{"id":78831,"structure_id":14251,"section_number":"8.9A-318","catch_line":"No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers","url":"\/8.9A-318\/","token":"8.9A\/3\/3\/8.9A-318","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-317\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 219 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 8 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1973, chapter 509; in 1983, chapter 204; in 1991, chapter 536; in 1996, chapter 216<\/a>; in 2000, chapter 1007<\/a>; in 2004, chapter 200<\/a>; in 2012, chapter 155<\/a>; in 2024, chapter 652<\/a>.<\/p>","references":[{"id":86332,"section_number":"55.1-318","catch_line":"Credit line deed of trust defined; relative priority of credit line deed of trust and other instruments of judgment","order_by":null,"url":"\/55.1-318\/"},{"id":76968,"section_number":"55.1-407","catch_line":"Contracts, etc., void as to creditors and purchasers until recorded; priority of credit line deed of trust","order_by":null,"url":"\/55.1-407\/"},{"id":77642,"section_number":"8.2A-307","catch_line":"Priority of liens arising by attachment or levy on, security interests in, and other claims to goods","order_by":null,"url":"\/8.2A-307\/"}],"refers_to":[{"id":67103,"section_number":"8.7-106","catch_line":"Control of electronic document","order_by":null,"url":"\/8.7-106\/"},{"id":84613,"section_number":"8.9A-105","catch_line":"Control of electronic copy of record evidencing chattel paper","order_by":null,"url":"\/8.9A-105\/"},{"id":74128,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","order_by":null,"url":"\/8.9A-203\/"},{"id":62582,"section_number":"8.9A-320","catch_line":"Buyer of goods","order_by":null,"url":"\/8.9A-320\/"},{"id":59162,"section_number":"8.9A-321","catch_line":"Licensee of general intangible and lessee of goods in ordinary course of business","order_by":null,"url":"\/8.9A-321\/"},{"id":61423,"section_number":"8.9A-322","catch_line":"Priorities among conflicting security interests in and agricultural liens on same collateral","order_by":null,"url":"\/8.9A-322\/"}],"permalink":{"id":284027,"object_type":"law","relational_id":62358,"identifier":"8.9A-317","token":"8.9A\/3\/3\/8.9A-317","url":"\/8.9A-317\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-317\/","token":"8.9A\/3\/3\/8.9A-317","dublin_core":{"Title":"Interests that take priority over or take free of security interest or agricultural lien","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-317","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Conflicting security interests and rights of lien<\/span> creditors<\/span>. A security interest or agricultural lien<\/span> is subordinate to the rights of: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> a person entitled to priority under § 8.9A-322<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> except as otherwise provided in subsection (e), a person that becomes a lien<\/span> creditor<\/span> before the earlier of the time: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the security interest or agricultural lien<\/span> is perfected; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> one of the conditions specified in subdivision (b)(3) of § 8.9A-203<\/a> is met and a financing statement covering the collateral<\/span> is filed. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Buyers that receive delivery. Except as otherwise provided in subsection (e), a buyer, other than a secured party<\/span>, of goods, instruments, tangible documents, or a certificated security takes free of a security interest or agricultural lien<\/span> if the buyer gives value and receives delivery of the collateral<\/span> without knowledge of the security interest or agricultural lien<\/span> and before it is perfected. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> Lessees that receive delivery. Except as otherwise provided in subsection (e), a lessee of goods takes free of a security interest or agricultural lien<\/span> if the lessee gives value and receives delivery of the collateral<\/span> without knowledge of the security interest or agricultural lien<\/span> and before it is perfected. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> Licensees and buyers of certain collateral<\/span>. Subject to subsections (f) through (i), a licensee of a general intangible or a buyer, other than a secured party<\/span>, of collateral<\/span> other than electronic money, goods, instruments, tangible documents, or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

e.<\/span> Purchase-money security interest. Except as otherwise provided in §§ 8.9A-320<\/a> and 8.9A-321<\/a>, if a person files a financing statement with respect to a purchase-money security interest before or within twenty days after the debtor receives delivery of the collateral<\/span>, the security interest takes priority over the rights of a buyer, lessee, or lien<\/span> creditor<\/span> which arise between the time the security interest attaches and the time of filing. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

f.<\/span> Buyers of chattel paper. A buyer, other than a secured party<\/span>, of chattel paper takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> receives delivery of each authoritative tangible copy of the record evidencing the chattel paper; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> if each authoritative electronic copy of the record evidencing the chattel paper can be subjected to control under § 8.9A-105<\/a>, obtains control of each authoritative electronic copy. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

g.<\/span> Buyers of electronic documents. A buyer of an electronic document takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and, if each authoritative electronic copy of the document can be subjected to control under § 8.7-106<\/a>, obtains control of each authoritative electronic copy. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

h.<\/span> Buyers of controllable electronic records. A buyer of a controllable electronic record takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and obtains control of the controllable electronic record. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> Buyers of controllable accounts and controllable payment intangibles. A buyer, other than a secured party<\/span>, of a controllable account or a controllable payment intangible takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and obtains control of the controllable account or controllable payment intangible. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY INTEREST OR\nAGRICULTURAL LIEN (\u00a7 8.9A-317)\n\na. Conflicting security interests and rights of lien creditors. A security\ninterest or agricultural lien is subordinate to the rights of:\n\n 1. a person entitled to priority under § 8.9A-322; and\n\n 2. except as otherwise provided in subsection (e), a person that becomes a\n lien creditor before the earlier of the time:\n\nA. the security interest or agricultural lien is perfected; or\n\nB. one of the conditions specified in subdivision (b)(3) of § 8.9A-203 is\nmet and a financing statement covering the collateral is filed.\n\nb. Buyers that receive delivery. Except as otherwise provided in subsection (e),\na buyer, other than a secured party, of goods, instruments, tangible documents,\nor a certificated security takes free of a security interest or agricultural\nlien if the buyer gives value and receives delivery of the collateral without\nknowledge of the security interest or agricultural lien and before it is\nperfected.\n\nc. Lessees that receive delivery. Except as otherwise provided in subsection\n(e), a lessee of goods takes free of a security interest or agricultural lien if\nthe lessee gives value and receives delivery of the collateral without knowledge\nof the security interest or agricultural lien and before it is perfected.\n\nd. Licensees and buyers of certain collateral. Subject to subsections (f)\nthrough (i), a licensee of a general intangible or a buyer, other than a secured\nparty, of collateral other than electronic money, goods, instruments, tangible\ndocuments, or a certificated security takes free of a security interest if the\nlicensee or buyer gives value without knowledge of the security interest and\nbefore it is perfected.\n\ne. Purchase-money security interest. Except as otherwise provided in\n§§ 8.9A-320 and 8.9A-321, if a person files a financing statement with\nrespect to a purchase-money security interest before or within twenty days after\nthe debtor receives delivery of the collateral, the security interest takes\npriority over the rights of a buyer, lessee, or lien creditor which arise\nbetween the time the security interest attaches and the time of filing.\n\nf. Buyers of chattel paper. A buyer, other than a secured party, of chattel\npaper takes free of a security interest if, without knowledge of the security\ninterest and before it is perfected, the buyer gives value and:\n\n 1. receives delivery of each authoritative tangible copy of the record\n evidencing the chattel paper; and\n\n 2. if each authoritative electronic copy of the record evidencing the chattel\n paper can be subjected to control under § 8.9A-105, obtains control of\n each authoritative electronic copy.\n\ng. Buyers of electronic documents. A buyer of an electronic document takes free\nof a security interest if, without knowledge of the security interest and before\nit is perfected, the buyer gives value and, if each authoritative electronic\ncopy of the document can be subjected to control under § 8.7-106, obtains\ncontrol of each authoritative electronic copy.\n\nh. Buyers of controllable electronic records. A buyer of a controllable\nelectronic record takes free of a security interest if, without knowledge of the\nsecurity interest and before it is perfected, the buyer gives value and obtains\ncontrol of the controllable electronic record.\n\ni. Buyers of controllable accounts and controllable payment intangibles. A\nbuyer, other than a secured party, of a controllable account or a controllable\npayment intangible takes free of a security interest if, without knowledge of\nthe security interest and before it is perfected, the buyer gives value and\nobtains control of the controllable account or controllable payment intangible.\n\nHISTORY: 1964, c. 219, \u00a7 8.9-301; 1973, c. 509; 1983, c. 204; 1991, c. 536, \u00a7\n8.2A-307; 1996, c. 216; 2000, c. 1007; 2004, c. 200; 2012, c. 155; 2024, c. 652.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}