August 2020

An informative e-newsletter for the Real Property Law Section of the State Bar of Michigan.

The PACA/PSA Trust

PACA-PSA

By John D. Bartley, O’Reilly Rancilio PC

Two federal statutes contain hidden risks of superior lien rights that are not currently insured by a title insurance provider or covered by reviewing the filing records of the Uniform Commercial Code. The United States Congress enacted the Perishable Agricultural Commodities Act (“PACA”) (7 U.S.C. §499a, et seq.) and the Packers and Stockyards Act (“PSA”) (7 U.S.C. §181, et seq.) to protect the sellers/suppliers of perishable agricultural commodities (“PAC”) from being treated as unsecured creditors if perishable foods are delivered to an insolvent purchaser. The standards are different depending on the category of merchant such as wholesalers, retailers, or truckers.

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The views and opinions expressed in these articles are those of the authors, and they do not reflect in any way the positions of the State Bar of Michigan or the Real Property Law Section. These columns are meant for informational purposes only and should not be construed as legal advice. IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, by any person for the purpose of (i) avoiding tax-related penalties or (ii) promoting, marketing, or recommending to another person any transaction or matter addressed in this communication.