non-possessory

It is very similar to a common law non-possessory remortgage.

In the United States, a lien can be a non-possessory security interest.

However, mortgages (legal and equitable) are non-possessory security interests.

Representative of earlier English law, it was considered that any non-possessory property interest was a fradulent Act.

The Second Circuit has also applied laches to non-possessory contract claims for unconscionable consideration.

The lien also in many situations is possessory although it is possible to have a non-possessory lien.

An equitable lien is a non-possessory security right conferred by operation of law, which is similar in effect to an equitable charge.

In the USA, a lien characteristically refers to non-possessory security interests (see generally: Security interest-categories).

On May 21, 2007, Judge Kahn dismissed the Oneida's possessory land claims and allowed the non-possessory claims to proceed.

An equitable charge is also a non-possessory form of security, and the beneficiary of the charge (the chargee) does not need to retain possession of the charged property.

"Actual ouster usually requires the possessing co-owner to expressly communicate an intention to exclude or deny the rights of the non-possessory tenant to the property," Mr. Sahn said.

Licenses to use property in a non-possessory manner are very similar to easements and are, under certain circumstances, transformed into easements by the court, but some general differences do exist:

Continental law, with its emphasis upon a unitary concept of dominium in which possession is central (possession vaut titre), is reluctant to recognise a non-possessory security right except insofar as it has been introduced by statute.

In a decision dated August 9, 2010, the Second Circuit opined that the non-possessory claims could not proceed and remanded the case back to the district court to enter a judgement in favor of the State and Counties.

Obviously, if all security interests were possessory it would make secured borrowing virtually impossible as a debtor would be deprived of the ability to use the assets subject to the security in the course of business (but English law has for long recognised non-possessory security interests).

It is a species of encumbrance giving a creditor a non-possessory security interest in a debtor's real property jus in re aliena and a preferential right to have claims paid out of that property as last recourse when the debtor is in default.

The House of Lords overturned the decision of Lord Mayfield and the subsequent decision of the Second Division of the Inner House of the Court of Session ((1989) SLT 182) to the effect that the clause constituted an invalid non-possessory security interest.

His Lordship concluded that the clause amounted to a non-possessory security right which was invalidated by virtue of s62(4): I accept that the only recognised forms of legal hypothec (that is where a person has security without possession) are those of a landlord, a superior, a solicitor and certain maritime hypothecs.