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I have a lease purchase agreement on two semi trucks that is

signed and dated Governing Law...
I have a lease purchase agreement on two semi trucks that is signed and dated Governing Law of Arkansas. It gives me Power of attorney over the trucks to have full control over trucks. It also states money made from the equipment is mine minus payments when due. He is trying to control the lease with the trucking company and the money made. Can I pull these trucks and re lease them in my name. Contract states I'm to retain tags and insurance on the equipment. It basically states its my equipment minus his truck payments.
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Answered in 10 minutes by:
5/7/2013
Lucy, Esq.
Lucy, Esq., Attorney
Category: Legal
Satisfied Customers: 31,018
Experience: Lawyer
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Hi,

My name is XXXXX XXXXX I'd be happy to answer your questions today.

What is your relationship with this other person? What is his basis for claiming any authority to act under the lease?
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Customer reply replied 4 years ago

My relationship with him is that we have been friends for about 7 years and that why I trusted him but not enough to not have the contract in case something went wrong

I meant the legal relationship. Who is this person and what makes him think that he's allowed to interfere in your contracts? Are you business partners?
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Customer reply replied 4 years ago

No we are not he is the owner of the trucks and I only agreed to keep them tagged in his name till the lease purchase is paid off. If I default on my payments after 30 days he has the right of repossion at that time. I can fax you a copy of the contract if you want to see it. The trucks being tagged in his name and him receiving payments is all he has to do with these trucks. He lost his job after he entered this contract with me and he is trying to control my trucks. He did have the trucks leased on to the company that I have them at and he refuses to let the company change anything. I try to change it then he calls and refuses. Im out 10 grand on these trucks and I want to know if by law I can change the lease and as long as he gets his payments there is nothing he can do.

One party to a lease cannot change the terms unilaterally. A lease can be changed, but only if both parties agree. Each party must give the other something in exchange for the other's promise, and then it will be enforceable.

With that said, if you're leasing the trucks from him, he currently doesn't have any legal right to be involved in your business as long as you're paying him. There is no need to change the lease, because he's already not allowed to do what he's doing. One option is to send a copy of the lease agreement to the company, along with a letter explaining that you have sole authority and asking that they refuse to speak to this man about them. Another option is to send him a "cease and desist" letter, explaining that there is a tort that prevents the intentional interference with contracts and that you will sue for him damages if he does not stop trying to involve himself in matters where he has no legal right to do so. If necessary, having a local attorney draft the letter for you may cause him to give it more attention than if it comes from you.

If you have any questions or concerns about what I've written, please reply so that I may address them. It's important to me that you are 100% satisfied with the service I provide. Otherwise, please rate my service positively so that I get credit for answering your question. Thank you.
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Customer reply replied 4 years ago

Can I also sue if the Trucking company refuses to cancel his lease agreement on the trucks and enter into a new agreement with me. If the company wants to just leave it alone because of his fits and pardon my language Hell he raises can I also sue them for trying to force me to work under his lease with the company and the company giving him my money. which is what is happening now.

If he agreed to cancel his lease agreement so that you could enter one, and you suffer monetary lease because you did not do that, then, yes, you could sue him.

You unfortunately cannot sue the leasing company, because they have no legal obligation to cancel an existing lease obligation at the request of someone else. You wouldn't have any standing to go after them, if they have a valid and enforceable lease agreement with him. If they broke the lease, they could be sued and you unfortunately don't have any legal ability to require them to do that.
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Customer reply replied 4 years ago

I don't think you understand I have 2 semi trucks that I leased purchased and when I entered the lease purchase on these trucks(Bob) had them leased to a trucking company (abc freight). When I bought them they were my trucks and I was going to enter an agreement with ABC freight to haul their freight. Ever time we go to enter in the new freight agreement with abc trucks or any trucking company Bob throws a fit that it is all his cause he still owns the trucks. The contract gives me Full Power of Attorney and states that I can lease them to pull freight anywhere I feel fit. The contract is signed and dated. Is it legal standing not being notarized? By law can I run these trucks like our contract states and tell him to shut up like it or not he is getting his truck payments.

I do understand. Bob is in violation of the agreements that you have with him. Your recourse is against Bob. You can sue him for violating the agreements and interfering with your business.

Standing involves who is able to bring a suit. A person who is not a party to a contract cannot sue to enforce. It has nothing to do with whether the documents are notarized. Bob is the person who has wronged you here, because he is the only one who has an obligation to you. The leasing company has not committed a legal wrong against you, based on the information you have provided.

What you are trying to do is not going to benefit you in the way that you think it will. You have someone trying to interject himself into agreements where he has no business being involved. Suing the third party won't help at all, because it won't do anything to stop him from continuing this behavior even if you could get the leases changed. The way to resolve the problem is to sue Bob.
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Customer reply replied 4 years ago

Thank you. I appreciate your help. I've been at my wits end over this. He is taking my pay weekly and not releasing it to me even the amount over the truck payments. I needed to know if I could make the changes and the account changes at the freight company and then just tell him I will sue if he doesnt back off. Thank you.

You're welcome. I'm glad I could help. Good luck with your case.
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Customer reply replied 4 years ago

I signed my lease purchase agreement to lease purchase these 2 trucks on April 4 2013. My money since then has been deposited into Bob's account and he agreed to give it to me. The freight company deposited in his account cause of the lease agreement with them to haul their freight. What can I do about money he owes me for the past 2 weeks?? Can I sue over that?? and who??

If Bob is holding money that belongs to you, yes, you can sue him. If the freight company deposited money into Bob's account pursuant to a lease agreement they had with Bob, then they did not breach any agreement with you and you would not have a cause of action against them.

If you have any questions or concerns about what I've written, please reply so that I may address them. It's important to me that you are 100% satisfied with the service I provide. Otherwise, please rate my service positively so that I get credit for answering your question. Thank you.
Lucy, Esq.
Lucy, Esq., Attorney
Category: Legal
Satisfied Customers: 31,018
Experience: Lawyer
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