Practical Law Glossary Item 7-382-3685 (Approx. 2 pages)
Glossary
Perfected Lien
In the context of bankruptcy, a lien satisfies the statutory requirements for obtaining priority over liens subject to the same requirements. State law generally governs these requirements. For example, certain lien types become perfected upon the filing of a UCC-1 financing statement or by possession of the underlying property subject to the lien.