§ 34.1-9-334 — Priority of security interests in fixtures and crops

Wyoming § 34.1-9-334

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 9: SECURED TRANSACTIONS

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(a) A security interest under this article may be created
in goods that are fixtures or may continue in goods that become
fixtures. A security interest does not exist under this article
in ordinary building materials incorporated into an improvement
on land.
(b) This article does not prevent creation of an
encumbrance upon fixtures under real property law.
(c) In cases not governed by subsections (d) through (h),
a security interest in fixtures is subordinate to a conflicting
interest of an encumbrancer or owner of the related real
property other than the debtor.
(d) Except as otherwise provided in subsection (h), a
perfected security interest in fixtures has priority over a
conflicting interest of an encumbrancer or owner of the real
property if the debtor has an interest of record in or is in
possession of the real property and:
(i) The security interest is a purchase-money
security interest;
(ii) The interest of the encumbrancer or owner arises
before the goods become fixtures; and
(iii) The security interest is perfected by a fixture
filing before the goods become fixtures or within twenty (20)
days thereafter.
(e) A perfected security interest in fixtures has priority
over a conflicting interest of an encumbrancer or owner of the
real property if:
(i) The debtor has an interest of record in the real
property or is in possession of the real property and the
security interest:
(A) Is perfected by a fixture filing before the
interest of the encumbrancer or owner is of record; and
(B) Has priority over any conflicting interest
of a predecessor in title of the encumbrancer or owner.
(ii) Before the goods become fixtures, the security
interest is perfected by any method permitted by this article
and the fixtures are readily removable:
(A) Factory or office machines;
(B) Equipment that is not primarily used or
leased for use in the operation of the real property; or
(C) Replacements of domestic appliances that are
consumer goods.
(iii) The conflicting interest is a lien on the real
property obtained by legal or equitable proceedings after the
security interest was perfected by any method permitted by this
article; or
(iv) The security interest is:
(A) Created in a manufactured home in a
manufactured-home transaction; and
(B) Perfected pursuant to a statute described in
section 34.1-9-311(a)(ii).
(f) A security interest in fixtures, whether or not
perfected, has priority over a conflicting interest of an
encumbrancer or owner of the real property if:
(i) The encumbrancer or owner has, in an
authenticated record, consented to the security interest or
disclaimed an interest in the goods as fixtures; or
(ii) The debtor has a right to remove the goods as
against the encumbrancer or owner.
(g) The priority of the security interest under paragraph
(f)(ii) continues for a reasonable time if the debtor's right to
remove the goods as against the encumbrancer or owner
terminates.
(h) A mortgage is a construction mortgage to the extent
that it secures an obligation incurred for the construction of
an improvement on land, including the acquisition cost of the
land, if a recorded record of the mortgage so indicates. Except
as otherwise provided in subsections (e) and (f), a security
interest in fixtures is subordinate to a construction mortgage
if a record of the mortgage is recorded before the goods become
fixtures and the goods become fixtures before the completion of
the construction. A mortgage has this priority to the same
extent as a construction mortgage to the extent that it is given
to refinance a construction mortgage.
(j) A perfected security interest in crops growing on real
property has priority over a conflicting interest of an
encumbrancer or owner of the real property if the debtor has an
interest of record in or is in possession of the real property.
(k) Subsection (j) prevails over any inconsistent
provisions of title 1, chapter 15, articles 1 and 2 and title
29, chapter 5.