Official Commentary discusses the
equivalent types of interest as follows:
An equivalent interest is an interest under a
charge or held by a person who is a conditional
seller under a title reservation agreement or
a lessor under a title reservation agreement. A
State may retain or restrict its nationally preferred
rights or interests arising by law, but may not use
the Convention to expand these preferred rights.
For example, if nonconsensual rights or interests,
while having priority over charges under a Contracting
State’s laws, do not have priority over the
rights of conditional sellers under title reservation
agreements, a declaration purporting to cover the
latter would not be permitted by Article 39.68