Aug 12, 2013 10:01 PM

Repair and Storage LIEN Act - Ontario

Refers to lien claimants that are in possession of an ARTICLE that is subject to a LIEN:

— 28. (1) Where an article that is subject to a lien is in the lien claimant’s possession, the lien claimant,

(a) shall use reasonable care in the custody and preservation of the article, UNLESS A HIGHER STANDARD OF CARE IS IMPOSED BY LAW; and

(b) unless otherwise agreed, (i) shall keep the article IDENTIFIABLE ("Revenue Receipt - For Treasury Use Only(?)"), and

(ii) may CREATE A SECURITY INTEREST under the Personal Property Security Act in the article, but only upon terms that DO NOT IMPAIR A RIGHT OF REDEMPTION under that Act or this Act.

“article” means an item of tangible personal property other than a fixture;

“lien claimant” means a person who is entitled to claim a lien for the repair, storage or storage and repair of an article;