71-3-123: When restoration extinguishes lien.
Where this section sits in the code
- TITLE 71. MORTGAGES, PLEDGES, AND LIENS
- CHAPTER 3. LIENS
- Part 1. General Provisions
Except as otherwise provided by the Uniform Commercial Code, the voluntary restoration of property to its owner by the holder of a lien thereon, dependent upon possession, extinguishes the lien as to such property, unless otherwise agreed by the parties, and extinguishes it, notwithstanding any such agreement, as to creditors of the owner and persons subsequently acquiring a title to the property or a lien thereon in good faith and for a good consideration.
Collected 2026-09-14T04:58:52Z. Source file · JSON