Question

In absence of an agreement the mortgage having highest priority will be the one

Answer 1

Absent perfection, the creditor stands a chance of losing out to another creditor . A later creditor can achieve priority by notifying the bank with the first mortgage .

Answer 2

Answer:

Absent perfection, the creditor stands a chance of losing out to another creditor . A later creditor can achieve priority by notifying the bank with the first mortgage .