The voluntary restoration of property to its owner by the holder of a lien which is dependent upon possession extinguishes the lien as to such property unless otherwise agreed by the parties, and notwithstanding any such agreement, extinguishes it as to creditors of the owner and persons subsequently acquiring title to the property, or a lien thereon, in good faith and for a good consideration.

Terms Used In North Dakota Code 35-01-21

  • Dependent: A person dependent for support upon another.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Property: includes property, real and personal. See North Dakota Code 1-01-49