Iowa Code 554.13307 – Priority of liens arising by attachment or levy on, security interests in, and other claims to goods
Current as of: 2023 | Check for updates
|
Other versions
1. Except as otherwise provided in section 554.13306, a creditor of a lessee takes subject to the lease contract.
Terms Used In Iowa Code 554.13307
- Contract: means the same as defined in section 554D. See Iowa Code 554E.1
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
2. Except as otherwise provided in subsection 3 and in sections 554.13306 and 554.13308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.
3. Except as otherwise provided in sections 554.9317, 554.9321, and 554.9323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.