Agricultural Lien – a statutory lien that protects a seller of farming equipment by giving the seller a lien on crops grown with the equipment

agricultural lien:
(1876)

l. A statutory lien that protects a seller of farming equipment by giving the seller a lien on crops grown with the equipment. 

2. Secured transactions. An interest (other than a security interest) in farm products having three characteristics:

(1) it must secure payment or performance of an obligation for goods or services furnished in connection with a debtor’s farming operation, or of an obligation for rent on real property leased by a debtor in connection with farming;
2) it must be created by statute in favor of a person either who in the ordinary course of business furnished goods or services to a debtor in connection with the debtor’s farming, or who leased real property to a debtor in connection with the debtor’s farming; and
(3) the effectiveness of the interest must not depend on the person’s possession of the personal property. UCC § 9-102(a)(5).
[1]

1. Liens given by statute or special contract upon agricultural property, such as crops and domestic animals, to secure farm laboreres and the vendors of seed grain, stock feed, and other products furnished for agricultural purposes. 3 Am J2d Agri § 10. [2]

References:

Disclaimer: All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use.

[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4

[2]: Ballantine’s Law Dictionary with Pronunciations
Third Edition by James A. Ballantine (James Arthur 1871-1949).  Edited by William S. Anderson.  © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY.  Library of Congress Catalog Card No. 68-30931

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