Personal Property Secured Transactions Act Article 17

When a debtor fails to perform the contract or the mortgaged property is relocated, sold, pledged, transferred, or otherwise disposed of so as to prejudice the exercise of mortgage rights, the mortgagee may take possession of the mortgaged property.When the debtor or third person of the preceding paragraph refuses to deliver the mortgaged property, the mortgagee may petition a court for provisional attachment. If the registered contract stipulates outright compulsory execution, the mortgagee may petition the court for compulsory execution pursuant to the contract.When a third party has made a bona fide acquisition of the mortgaged property for consideration, and the mortgagee subsequently takes possession of the mortgaged property from the third party, the third party may claim damages from the debtor or the payee of the consideration.