Commonwealth Consolidated Acts Commonwealth Consolidated ActsMain rule
(1) A buyer or lessee of personal property, for value, takes the personal property free of an unperfected security interest in the property.
Exception
(2) Subsection (1) does not apply if the unperfected security interest was created or provided for by a transaction to which the buyer or lessee is a party, unless the personal property concerned is of a kind prescribed by the regulations for the purposes of this subsection.