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Can you summarize NHRS 382-A:2A-310?
UNIFORM COMMERCIAL CODE > Lessor's and Lessee's Rights When Goods Become Accessions.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the rights of lessors and lessees when goods become accessions. Goods are considered accessions when they are installed or affixed to other goods. The interest of a lessor or 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 lessee under a lease contract entered into at or after the goods became accessions is superior to subsequently acquired interests, but subordinate to existing interests in the whole at the time the lease contract was made, unless the holders of such interests have consented to the lease or disclaimed an interest in the goods. The interest of a lessor or lessee under a lease contract is subordinate to the interest of a buyer or lessee in the ordinary course of business who acquires an interest in the whole after the goods became accessions, or a creditor with a security interest in the whole perfected before the lease contract was made. The lessor or lessee of accessions holding a superior interest may remove the goods from the whole upon default, expiration, termination, or cancellation of the lease contract, subject to the provisions of the lease contract and this Article. However, they must reimburse any holder of an interest in the whole, who is not the lessee and has not otherwise agreed, for the cost of repair of any physical injury caused by the removal of the goods. A person entitled to reimbursement may refuse permission to remove until adequate security for the performance of this obligation is provided.
Whom does it apply to?
Lessor and lessee under a lease contract
What does it govern?
Lessor's and Lessee's Rights When Goods Become Accessions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire