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Was there a written agreement between you and the ex- about this $5K?
If he doesn't have a written agreement with you about the $5K to show that it was a loan to you or that he has a property interest in the bike, then he shouldn't have a legal leg to stand on. If anything, it will be considered to be a gift.
He can file suit if he wants. It doesn't mean that he'll win. If you have to go to court you just keep saying this four letter word: GIFT. GIFT. GIFT. GIFT. GIFT. GIFT.
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