71-3-1301. Lien of seller of real property -- waiver.
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71-3-1301 . Lien of seller of real property -- waiver.
(1)A person who sells real property has a vendor's lien on the real property, independent of possession, for as much of the price as remains unpaid and unsecured other than by the personal obligation of the buyer.
(2)When a buyer of real property gives to the seller a written contract for payment of all or part of the price, an absolute transfer of the contract by the seller waives the seller's lien to the extent of the sum payable under the contract. However, a transfer of the contract in trust to pay debts and return the surplus is not a waiver of the lien.