When any owner of timber shall agree to sell it, receive any portion of the purchase price therefor and consent to the purchaser's brand being placed thereon, such purchaser shall have a lien on such timber to secure him in the amount of the purchase price paid to such owner, which shall exist so long as such purchaser is not in default under the contract of purchase. But this section shall not prevent the title to such timber passing to the purchaser either by agreement of the parties or operation of law and the provisions of this section shall apply also to such cases in which the title has passed to the purchaser.
HISTORY: 1962 Code Section 66-243; 1952 Code Section 66-243; 1942 Code Section 1250; 1932 Code Section 1250; 1925 (24) 27.