2010 Mississippi Code
TITLE 85 - DEBTOR-CREDITOR RELATIONSHIP
Chapter 7 - Liens.
85-7-127 - Satisfaction of lien; sale of property.

§ 85-7-127. Satisfaction of lien; sale of property.
 

(1)  Before any sale or other disposition of personal property pursuant to Sections 85-7-121 through 85-7-129, the occupant may pay the amount necessary to satisfy the owner's lien and the reasonable expenses incurred under Sections 85-7-121 through 85-7-129, and thereby redeem the personal property. Upon the payment and satisfaction of the amount necessary to satisfy the lien, the owner shall return the personal property and thereafter the owner shall have no liability to any person with respect to such personal property. Unless the rental agreement specifically provides otherwise and until a lien sale under Sections 85-7-121 through 85-7-129, the exclusive care, custody and control of all personal property stored in the leased self-storage space remains vested in the occupant. 

(2)  The owner may buy at any sale of personal property to enforce the owner's lien. 

(3)  A purchaser in good faith of the personal property sold to satisfy the owner's lien takes the property free of any rights of persons against whom the lien was valid, despite noncompliance by the owner with the requirements of this section. 

(4)  In the event of a sale under Sections 85-7-121 through 85-7-129, the owner may satisfy his lien from the proceeds of the sale but shall hold the balance, if any, for delivery on demand to the occupant. In no event shall the owner's liability exceed the proceeds of the sale. If the occupant does not claim the balance of the proceeds within one (1) year of the date of the sale, such balance shall be deemed to be abandoned and the owner shall pay such balance to the Treasurer of the State of Mississippi, who shall deposit such funds into the General Fund. 
 

Sources: Laws,  1988, ch. 595, § 4, eff from and after July 1, 1988.