The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 2A-310)
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§ 2A—310. Lessor’s and lessee’s rights when goods become accessions
(1) Goods are “accessions” when they are installed in or affixed to other goods.
(2) The interest of a lessor or a 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) of this section.
(3) The interest of a lessor or a lessee under a lease contract entered into at the time
or after the goods became accessions is superior to all subsequently acquired interests
in the whole except as stated in subsection (4) of this section but is subordinate
to interests in the whole existing at the time the lease contract was made unless
the holders of such interests in the whole have in writing consented to the lease
or disclaimed an interest in the goods as part of the whole.
(4) The interest of a lessor or a lessee under a lease contract described in subsection
(2) or (3) of this section is subordinate to the interest of:
(a) a buyer in the ordinary course of business or a lessee in the ordinary course of business
of any interest in the whole acquired after the goods became accessions; or
(b) a creditor with a security interest in the whole perfected before the lease contract
was made to the extent that the creditor makes subsequent advances without knowledge
of the lease contract.
(5) When under subsections (2) or (3) and (4) of this section a lessor or a lessee of
accessions holds an interest that is superior to all interests in the whole, the lessor
or the lessee may (a) on default, expiration, termination, or cancellation of the
lease contract by the other party but subject to the provisions of the lease contract
and this article, or (b) if necessary to enforce his or her other rights and remedies
under this article, remove the goods from the whole, free and clear of all interests
in the whole; but he or she must reimburse any holder of an interest in the whole
who is not the lessee and who has not otherwise agreed for the cost of repair of any
physical injury but not for any diminution in value of the whole caused by the absence
of the goods removed or by any necessity for replacing them. A person entitled to
reimbursement may refuse permission to remove until the party seeking removal gives
adequate security for the performance of this obligation. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)