Secured Transactions Act · s 21

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 21Security interests in crops

(1)

Except as otherwise provided in this Act, a security interest may be created and perfected in crops and continue as such before they are planted while growing and afterwards when cut or separated from the soil.

(2)

A security interest in crops shall only be created with the consent of the mortgagee or lessor under a lease with the duration of not more than 3 years.

(3)

No perfected security interest in crops shall be extinguished or prejudicially affected by a subsequent sale, lease, mortgage or other encumbrance of or on the land on which the crops are growing.