This chapter establishes the framework for the lien, a statutory security interest. It defines the lien, outlines the conditions for its creation (including negative elements), and specifies the rights and obligations of the lienholder, such as the duty of safekeeping and the right to collect fruits. The text details the procedures for exercising the lien, including priority in compensation from the auction or sale of the retained property. It also stipulates the lien’s superior priority over other security interests on the same movable property and enumerates the causes for its extinguishment.

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Lien

  • Jianyuan Cui

摘要

This chapter establishes the framework for the lien, a statutory security interest. It defines the lien, outlines the conditions for its creation (including negative elements), and specifies the rights and obligations of the lienholder, such as the duty of safekeeping and the right to collect fruits. The text details the procedures for exercising the lien, including priority in compensation from the auction or sale of the retained property. It also stipulates the lien’s superior priority over other security interests on the same movable property and enumerates the causes for its extinguishment.