Virginia Code 43-34.1: Lien of keeper of hangar or tie-down on aircraft subject to a chattel mortgage
In the case of any aircraft subject to a chattel mortgage, security agreement, deed of trust or other instrument securing money, the keeper of the hangar or tie-down shall have a lien thereon for his usual and reasonable charges for storage, alteration or repair from the time such lien is perfected as provided herein. Such lien is nonpossessory and shall be deemed a conveyance. To perfect such lien, the following shall be required:
Terms Used In Virginia Code 43-34.1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
1. The claim of lien shall be signed, under oath, by the claimant, his agent or attorney;
2. The claim of lien shall also be filed within 120 days after completion of alterations or repair or accrual of storage charges, as personal property security interests or liens are recorded, with the State Corporation Commission in accordance with the applicable provisions of Part 5 (§ 8.9A-501 et seq.) of Title 8.9A; and
3. The claim of lien shall also be filed within such 120-day period with the Aircraft Registration Branch of the Federal Aviation Administration.
1993, c. 854.