On March 1 he contracted with a paint/interior company to provide a new paint/interior. This company filed a lien on March 30.

On January 1 (same day as buying the aircraft) he contracted with the local FBO to hangar the aircraft and supply fuel. It is now April 30, and the aircraft owner hasn't paid a nickel in hangar rent or for a drop of fuel. The airplane is in the back of the hangar. Other airplanes are parked between the aircraft and the doors to the hangar.

It is May first. The owner is selling the aircraft. He is selling it for $500,000. He owes the bank $250,000. He owes the engine overhaul company $100,000. He owes the paint/interior shop $100,000. He owes the FBO $50,000. What do you think is going to happen at the closing of the aircraft sale? I want to hear the exact sequence of events and how the parties above are affected. A representative of each organization is present at the closing.