How PACA And PSA Super Liens Impact Real Estate Sales

Law360 (April 13, 2018, 1:19 PM EDT) -- You are representing a buyer and/or a borrower or a lender in a multisite acquisition with financing to be secured by mortgages on properties supporting a portfolio of fast food restaurants. As you review your title commitments, one unfamiliar exception keeps popping up: “Any claim that the Title is subject to a trust or lien created under The Perishable Agricultural Commodities Act (7 U.S.C. §§499a, et seq.) (PACA) or the Packers and Stockyards Act (7 U.S.C. §§181 et seq.) (PSA) or under similar state laws.”...
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