Why Is It Important for a Creditor to Perfect a Secured

Multiple Choice

Why is it important for a creditor to perfect a secured interest if there is the potential that a lien will subsequently be placed on the same property?

A) Because otherwise the creditor will not be able to make a claim if the lien holder makes a claim.
B) Because otherwise the creditor has to split the proceeds of property with the lien holder.
C) Because the lien creditor will completely take over the secured interest.
D) Because the secured interest will be lost if a lien is placed on the property.
E) Because a lien creditor will have priority over an unsecured interest.