What does a possessory lien mean for a printer, is it like a mechanic's lien?

Full question:

What does a possessory lien mean for a printer, is it like a mechanic's lien?

  • Category: Automobiles
  • Subcategory: Mechanics Lien
  • Date:
  • State: Minnesota

Answer:

We cannot give legal advice. The following is not a substitute for the advice of a local attorney. But we hope the information will be useful.

A possessory lien differs slightly from a mechanic's lien in that the "mechanic" (carpenter, or etc.) is is not necessarily in possession of the property for which he seeks payment (for example, carpentry work on a house). A possessory lien differs in that the person seeking payment (the printer, in your case) actually retains possession of the (printed) materials until payment is rendered for them.

 

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

The three main types of liens are possessory liens, statutory liens, and consensual liens. A possessory lien allows a creditor to retain possession of property until a debt is paid. Statutory liens arise from laws that provide automatic rights to creditors, such as tax liens. Consensual liens are created through agreements between parties, like mortgages. Each type serves to secure a debt but operates under different legal principles.