Possessory lien definition

Possessory lien means a lien on a personal property that is valid only while the property is in the possession of the person asserting the lien or an agent of the person.
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Possessory lien means a lien dependent upon possession for com-
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Possessory lien means the right to maintain possession of a vehicle and motor vehicle registration plates against all claims of the owner and/or security lien or until all charges are paid for recovery, towing, and storage in accordance with the certificated towers tariff.
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Examples of Possessory lien in a sentence

  • Removal and impoundment of vehicles -- Reporting and notification requirements -- Administrative impound fee -- Refunds -- Possessory lien -- Rulemaking.

  • Possessory lien over aircraft may be established as legal possessory lien (on the basis of the law), contractual possessory lien (on the basis of legal action) and court possessory lien (on the basis of court decision).

  • Possessory lien of person who made encroachment along with persons which are specially authorized on that also the victims and other citizens have.

  • Where the buyer becomes insolvent( Possessory lien: The unpaid seller’s lien is a possessory lien.

  • Panama City Marina holds a Possessory lien on the vessel pursuant to Florida law, including Section 328 Florida Statutes.

  • Possessory lien exists only when the lien-holder takes possession of the collateral and according to PRC Secured Transaction Law, the eligible collateral for possessory lien is limited to personal properties.7The concepts of priority right and statutory mortgage do not exist in current PRC Secured Transaction Law.

  • Possessory lien: where a person has carried out work to an aircraft with the authorisation of the owner, thereby enhancing the aircraft’s value, that person may have a lien on the aircraft to the extent that they remain unpaid for the work carried out and may refuse to return the aircraft until they are paid.

  • When the lien claimed under ORS 87.152 (Possessory lien for labor or material expended on chattel) to 87.162 (Landlord’s lien) is for other than the storage of a chattel, if the lien claimant incurs expenses in storing the chattel prior to foreclosure, the lien claimant may charge reasonable fees for the storage of the chattel for a period not exceeding six months from the date that the lien attaches to the chattel.

  • A bond or money may be filed or deposited under subsection (1) or (2) of this section at any time after a lien for the storage of a chattel is claimed under ORS 87.152 (Possessory lien for labor or material expended on chattel) to 87.162 (Landlord’s lien) and the amount of the lien claimed is $750 or more.

  • The second roll-call will take place 20 minutes, and the third roll-call 10 minutes, before the competition starts.


More Definitions of Possessory lien

Possessory lien means a lien dependent upon possession for com- pensation to which a person is legally entitled for making repairs or per- forming labor upon, and furnishing supplies or materials for, and for the towing, storage, repair, or safekeeping of, any vehicle of a type subject to registration.
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Possessory lien means the right to retain possession of a vehicle and motor
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Possessory lien means a Right of the Person securing payment for services provided in the ordinary course of business that exists as long as the person remains in possession of the goods ;
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Possessory lien means an interest, other than a security interest or an agricultural lien:
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Possessory lien means the same as defined in section 19 554.9333.20 5. “Warehouse” means the same as defined in section 21 554.7102.22 Sec. 2. NEW SECTION. 571A.2 Warehouse drying or storage23 lien created.24 A warehouse drying or storage lien is created as a possessory25 lien on a crop delivered by a person to a warehouse acting as a26 bailee under chapter 554, article 7, for the reasonable value27 of services related to the drying or storage of the crop by28 the warehouse. For purposes of chapter 554, the warehouse is29 a secured creditor and lienholder and the person for whom the30 warehouse renders such drying or storage services is a debtor.31 Sec. 3. NEW SECTION. 571A.3 Effectiveness, perfection, and32 termination of lien —— evidence of delivery.33 1. a. A lien becomes effective at the time a debtor34 delivers a crop to a warehouse for drying or storage.35 b. The lien is automatically perfected at the time the lien 1 becomes effective. The lien is no longer perfected on and2 after March 1 of the calendar year following the calendar year3 that the debtor delivered the crop to the warehouse.4 c. The lien is terminated when the warehouse relinquishes5 possession of the crop.6 2. Evidence of a debtor’s delivery of a crop to a warehouse7 includes but is not limited to a warehouse receipt as described8 in section 554.7202, a scale ticket, or any other reasonable9 evidence of delivery provided by the warehouse to the debtor.10 Sec. 4. NEW SECTION. 571A.4 Priority of perfected lien.11 During the period that a lien is perfected under section12 571A.3, the lien has priority over any conflicting security13 interest in or agricultural lien on the crop, regardless of14 when such security interest or agricultural lien is perfected.15 Sec. 5. NEW SECTION. 571A.5 Enforcement of lien.16 During the period that a lien is perfected under section17 571A.3, the warehouse may enforce the lien in the same manner18 as an agricultural lien is enforced pursuant to chapter 554,
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Related to Possessory lien

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • Lien means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

  • Lienholder means a person with a security interest in particular property.

  • Security Interest means any mortgage, charge, pledge, hypothec, security interest, assignment, lien (statutory or otherwise), privilege, easement, servitude and any other encumbrance of any nature or any other arrangement or condition which, in substance, secures payment or performance of an obligation;

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Collateral has the meaning set forth in Section 2.

  • Personal Property shall have the meaning set forth in the granting clause of the Mortgage.