Wisconsin Statutes 409.333 – Priority of certain liens arising by operation of law
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Terms Used In Wisconsin Statutes 409.333
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Statute: A law passed by a legislature.
(1) Possessory lien. In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien:
(a) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person’s business;
(b) Which is created by statute or rule of law in favor of the person; and
(c) Whose effectiveness depends on the person’s possession of the goods.
(2) Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.