Texas Property Code 70.302 – Possession
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(a) A holder of a lien under this subchapter may retain possession of the aircraft subject to the lien until the amount due is paid.
(b) Except as provided by Subsection (c), if the holder of a lien under this subchapter relinquishes possession of the aircraft before the amount due is paid, the person may retake possession of the aircraft as provided by § 9.609, Business & Commerce Code.
Terms Used In Texas Property Code 70.302
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) The holder of a lien under this subchapter may not retake possession of the aircraft from a bona fide purchaser for value who purchases the aircraft without knowledge of the lien before the date the lien is recorded under § 70.303.