South Carolina Code 39-15-740. Loss of lien upon default in payments; removal of brand
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Terms Used In South Carolina Code 39-15-740
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
- purchaser: as used in this article shall include any person acting either in his own behalf or as an employee, agent or representative of any other person. See South Carolina Code 39-15-710
- timber: as used in this article shall include trees, lying or prepared for sale, sawlogs and all other logs, crossties, boards, planks, staves, headings and all other timber cut or prepared for use or sale. See South Carolina Code 39-15-710
The lien of the purchaser upon such timber when the title has not passed to such purchaser shall cease to exist immediately upon his becoming in default under the contract of purchase and it shall then be lawful for the owner of such timber to deface, destroy or otherwise remove the brand of the purchaser therefrom and resume full possession and control thereover.