SPONSORED: www.CrazyFans.com

backup content in case it doesn't work

What are the main features of a maritime lien that distinguish it from a possessory lien?

MCA Oral Exam Questions
Typography

(1) A maritime lien is a lien in rem, i. e. against the matter, whereas a possessory lien is a lien in personam, i. e. against the person (including a company). 

(2) Whereas a possessory lien is dependent on possession of the property, a maritime lien is not dependent on possession, i. e. it travels with the property (e. g. a ship or cargo). (3) A maritime lien survives the commercial sale (but not the judicial sale) of the property, whereas a possessory lien does not.

 

BLOG COMMENTS POWERED BY DISQUS