North Dakota Code 35-32-02 – Possession of aircraft
Current as of: 2023 | Check for updates
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1. A holder of a lien under this chapter may retain possession of the aircraft subject to the lien until the amount due is paid.
Terms Used In North Dakota Code 35-32-02
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
2. Except as provided in subsection 3, if the holder of a lien under this chapter relinquishes possession of the aircraft before the amount due is paid, that person may retake possession of the aircraft as provided by section 41-09-106.
3. The holder of a lien under this chapter may not retake possession of the aircraft from a bona fide purchaser for value who, before the date the lien is recorded under section 35-32-03, purchases the aircraft without knowledge of the lien.