Possessory Liens
Possessory Liens
Possessory Liens
Lienor - Possessory Interest holding a lien against the property of another.
Lienee - One whose property is subject to a lien.
Lien Holder - Under Uniform Commercial Code a secured party holding a monetary
interest in one's property.
How is a Lien Created?
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Simply by a customer/merchant (lienee) becoming delinquent and in default when their obligations to a (lienor) become past due or unpaid. A Possessory Lien is a priority lien above all other liens.
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Example:
You have a repair shop, marina, aircraft facility and or storage facility, etc. and a client has not paid for repairs and or storage on their boat, vehicle, airplane, or personal property.
You as the Lienor have the right to place a lien on the unpaid property until either:
1- The Bill is Paid
2- By state statute, an Auction Sale will either give you title to the property
3- Or a third-party will take title when they pay the lien at Public Auction Sale to satisfy the Lienor.
We process Possessory Liens under the following Florida Statutes:
F.S. 328-17 Non-Judicial Sale of Vessels
F.S. 328-17 states a Possession Lienor must give the customer and lien holder(s) if any, 60 days to comply with the statute to pay the labor, storage, repairs, etc. in full plus the lien fees. If after 60 days, the payment is not received F.S. 328-17
requires the asset be sold at public auction to satisfy any outstanding debt to the lienor. If at the auction the lien is not satisfied, we as the licensed auctioneer will apply to the appropriate agency for the title in your business's name. Titling takes approximately 1-2 weeks. The entire process time is approximately 10 weeks.
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F.S. 329.51. Aircraft Liens for Labor Services, Fuel or Material Expenses upon Aircraft.
F.S. 329.51/F.S.713.58 states that a Possession Lienor must give the FAA registered owner and lienholder if any 45 days to comply with the statute to pay the labor, storage, repairs, etc. in full plus fees. If after 45 days the payment is not received the statute requires a public auction sale must be advertised and conducted to sell the asset to satisfy any outstanding debt to the lienor and auction expenses in full. If your lien is not satisfied from the auction we will provide the necessary documentation to transfer title and or registration to you. The entire process time is approximately 7 weeks.
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F.S. 677.210 Warehouse Liens
F.S. 677.210 states a Possession Lienor (The Warehouseman) must give the merchant or customer 10 days notice to comply and pay all back storage rent due. If after 10 days, the payment is not received F.S. 677.210 requires a public auction sale must be advertised and conducted to sell the merchant's good to satisfy the lien plus auction expenses in full. Upon the completion of the sale, Lien and Recovery Services FL, a licensed auctioneer will provide a paid in full Bill of Sale of the Goods to the purchaser at the auction. The entire process time is approximately 4 weeks.
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F.S. 713-585 Enforcement of Lien by Sale of Motor Vehicle
F.S. 713-78 Liens for Recovering, Towing or Storing Vehicles and Vessels.
F.S. 713-785 Liens for Recovering, Towing or Storing Mobile Homes
F.S. 713-785 states a Possession Lienor (Mobile Home Park Operator/Transport Company) must give the owner and or lienholder 35 days to comply with the statute and satisfy outstanding balances in full. If after 35 days, the payment is not received F.S. 713-785 requires the Mobile Home to be sold at public auction to satisfy the outstanding lien. After the auction sale, Lien and Recovery Service FL will apply to the appropriate Florida agency and submit documentation to issue title to the new owner.