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Attorney2020, Attorney
Category: Bankruptcy Law
Satisfied Customers: 2578
Experience:  I am a practicing attorney. I have experience in business law, real estate law, bankruptcy and estates.
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My son purchased fitness equipment from a bank because owner

Customer Question

My son purchased fitness equipment from a bank because owner claimed bankruptcy. A bidding process was completed and he paid in cash. He contacted owner of building to
set up time to start removing equipment. Equipment is still at location that closed down. Owner says he can't have equipment because he has a lien on it. Didn't know the equipment
repossessed by bank....How does my son get his equipment... Thanks,
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  Attorney2020 replied 4 years ago.

Attorney2020 :


Your son may have to file a claim with the court such as a writ of execution with the sherrif in order to recover the assets held at the business location.

If your son has presented the documetation that the bank has provided to him relating to the fitness equipment and the owner refuses to give it up, a filing in court (writ of execution) to recover assets might be appropriate.

I hope this helps.

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