Security Interests in Rolling Stock, Aircraft and Vessels

Abstract

The law governing security interests in certain classes of mobile assets -- aircraft, railroad rolling stock, and certain vessels -- is complex because of the overlay of federal law that supplements, and in some instances displaces, Article 9 of the UCC. This article provides an overview of the law governing perfection, priorities, and enforcement of security interests in these types of assets and analyzes some of the ambiguities and issues that often arise.