(a) a person (the transferee ) acquires personal property from another person (the transferor ); and
(b) as a result, the transferee takes the personal property, or an accession to the property, free of a secured party's security interest because of the operation of this Part.
(2) The rights of the secured party are subrogated, in relation to the property, to the rights (if any) of the transferor and any predecessor of the transferor (including the right to receive any part of the purchase price for the property which has not been paid).
(3) If a person who is liable to pay the purchase price of
personal property makes a payment before receiving notice of a secured
party's right under subsection (2), the payment discharges the
obligation of the person to the extent of the payment.