Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.

1. Law
2. New Jersey Revised Statutes
3. Commercial Transactions
4. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.

12A:2A-307 Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.

12A:2A-307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.

(1) Except as otherwise provided in 12A:2A-306, a creditor of a lessee takes subject to the lease contract. (2) Except as otherwise provided in subsection (3) and in 12A:2A-306 and 12A:2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.

(3) Except as otherwise provided in 12A:9-317, 12A:9-321 and 12A:9-323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.

L.1994, c.114, s.1; amended 2001, c.117, s.12; 2001, c.386, s.132.

Download our app to see the most-to-date content.