Utah Code 41-1a-601. Lien validity — Security interest
Current as of: 2024 | Check for updates
|
Other versions
(1) Except as provided under Subsection (2) or (3) , a lien upon a vehicle, vessel, or outboard motor, except a lien dependent upon possession, is not valid against the creditors of an owner acquiring a lien by levy or attachment, or subsequent purchasers, or encumbrancers without notice until Sections 41-1a-602 through 41-1a-606 have been complied with.
Terms Used In Utah Code 41-1a-601
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Dependent: A person dependent for support upon another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Lienholder: means a person with a security interest in particular property. See Utah Code 41-1a-102
- Outboard motor: means a detachable self-contained propulsion unit, excluding fuel supply, used to propel a vessel. See Utah Code 41-1a-102
- Owner: means a person, other than a lienholder, holding title to a vehicle, vessel, or outboard motor whether or not the vehicle, vessel, or outboard motor is subject to a security interest. See Utah Code 41-1a-102
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Registration: means a document issued by a jurisdiction that allows operation of a vehicle or vessel on the highways or waters of this state for the time period for which the registration is valid and that is evidence of compliance with the registration requirements of the jurisdiction. See Utah Code 41-1a-102
- Security interest: means an interest that is reserved or created by a security agreement to secure the payment or performance of an obligation and that is valid against third parties. See Utah Code 41-1a-102
- Title: means the right to or ownership of a vehicle, vessel, or outboard motor. See Utah Code 41-1a-102
- Vehicle: includes a motor vehicle, trailer, semitrailer, off-highway vehicle, camper, park model recreational vehicle, manufactured home, and mobile home. See Utah Code 41-1a-102
- Vessel: means the same as that term is defined in Section
73-18-2 . See Utah Code 41-1a-102(2) Security interests in inventory consisting in part of vehicles subject to registration under this chapter, that are held for sale by a person in the business of selling goods of that kind, shall be perfected under Section70A-9a-310 , except that:(2)(a) buyers in the ordinary course of business, as defined in Section70A-1a-201 , take free of the security interests as provided in Section70A-9a-320 ; and(2)(b) security interests of persons extending credit to buyers in the ordinary course of business, as defined in Section70A-1a-201 , take free of the security interests as provided in Section70A-9a-320 .(3) Security interests in inventory consisting in part of vehicles subject to registration under this chapter, which are held for sale by a person in the business of selling goods of that kind, shall be perfected under Section70A-9a-310 , except that a lienholder with a security interest noted on the title shall have priority unless the lienholder has been paid in full in accordance with Section41-3-402 .