Ace the 2026 CLFP Collections Test – Master Your Financial Future!

Attachment happens when three things come together: value is given, the debtor has rights in the collateral, and there is a security agreement that describes the collateral and is authenticated. The filing of a UCC-1 financing statement is not part of attachment—it’s about perfection, which is about giving notice to third parties and establishing priority. Perfection can occur by filing or by other methods (like possession or control in certain cases), but those steps don’t affect whether the security interest truly attaches.