Under Section 187 of NY Lien Law, every person or entity engaged in “carting or trucking property shall have a lien upon such property and may retain such portion of the property in his possession” to help ensure payment for the truckman or drayman. See NY Lien Law § 187[1]. Possession of the property is required for this lien. Please note that …
New York Agriculture Lien Law: Landlord’s Lien
A landlord’s lien used to be superior to other creditors’ claims; however, in New York, it does not arise automatically because a landlord-tenant relationship is created. Landlords who want to retain title to the products of the land against the tenant’s other creditors must explicitly include a provision to that effect in the lease. Both the landlord and tenant should memorialize their …
New York Agriculture Liens: Background
The scope of the revised Uniform Commercial Code (“UCC”) Article 9 is newly expanded to cover the perfection, priority, and enforcement of nonpossessory “Agricultural Liens” in the farm products of those borrowers involved in farming operations. The definition of “agricultural liens” is different than the broader and more general category of “secured interest”. UCC Article 9 does not supersede any existing statutory …