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§ 47-2A-301. Enforceability of Lease Contract

Except as otherwise provided in this chapter, a lease contract is effective and enforceable according to its terms between the parties, against purchasers of the goods and against creditors of the parties.

§ 47-2A-302. Title to and Possession of Goods

Except as otherwise provided in this chapter, each provision of this chapter applies whether the lessor or a third party has title to the goods, and whether the lessor, the lessee, or a third party has possession of the goods, notwithstanding any statute or rule of law that possession or the absence of possession is […]

§ 47-2A-303. Alienability of Party’s Interest Under Lease Contract or of Lessor’s Residual Interest in Goods — Delegation of Performance — Transfer of Rights

As used in this section, “creation of a security interest” includes the sale of a lease contract that is subject to chapter 9, Secured Transactions, by reason of § 47-9-109(a)(3). Except as provided in subsection (3) and § 47-9-407, a provision in a lease agreement which (i) prohibits the voluntary or involuntary transfer, including a […]

§ 47-2A-304. Subsequent Lease of Goods by Lessor

Subject to § 47-2A-303, a subsequent lessee from a lessor of goods under an existing lease contract obtains, to the extent of the leasehold interest transferred, the leasehold interest in the goods that the lessor had or had power to transfer, and except as provided in subsection (2) and § 47-2A-527(4), takes subject to the […]

§ 47-2A-305. Sale or Sublease of Goods by Lessee

Subject to the provisions of § 47-2A-303, a buyer or sublessee from the lessee of goods under an existing lease contract obtains, to the extent of the interest transferred, the leasehold interest in the goods that the lessee had or had power to transfer, and except as provided in subsection (2) and § 47-2A-511(4), takes […]

§ 47-2A-306. Priority of Certain Liens Arising by Operation of Law

If a person in the ordinary course of his or her business furnishes services or materials with respect to goods subject to a lease contract, a lien upon those goods in the possession of that person given by statute or rule of law for those materials or services takes priority over any interest of the […]

§ 47-2A-308. Special Rights of Creditors

A creditor of a lessor in possession of goods subject to a lease contract may treat the lease contract as void if as against the creditor retention of possession by the lessor is fraudulent under any statute or rule of law, but retention of possession in good faith and current course of trade by the […]

§ 47-2A-309. Lessor’s and Lessee’s Rights When Goods Become Fixtures

In this section: goods are “fixtures” when they become so related to particular real estate that an interest in them arises under real estate law; a “fixture filing” is the filing, in the office where a record of a mortgage on the real estate would be filed or recorded, of a financing statement covering goods […]

§ 47-2A-310. Lessor’s and Lessee’s Rights When Goods Become Accessions

Goods are “accessions” when they are installed in or affixed to other goods. The interest of a lessor or a lessee under a lease contract entered into before the goods became accessions is superior to all interests in the whole except as stated in subsection (4). The interest of a lessor or a lessee under […]