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Answered in 7 minutes by:
12/6/2010
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 32,268
Experience: 42 years qualified as a lawyer; LLB, MMgt and FAMINZ.
Verifiedchristhelawyer :
Hi I have read your question and the following answer will guide you through the problem. Please feel free to follow up if anything is not clear.
christhelawyer :
If this was never their property, but lent, or rented on some arrangement, then you still own it. This can depend on the terms of the contract however-what sort of contract (if any) did you have-what were the terms and when did you expect to get this back?
JACUSTOMER-4ujivxgc- :
No contract - the property is a specially designed bike rack for a helicopter which flies our customers and mountain bikes.
JACUSTOMER-4ujivxgc- :
The rack merely lived at the helicopter company for convenience.
christhelawyer :
I suspect it must still be yours-did you just lend it when they needed it and what is the value?
JACUSTOMER-4ujivxgc- :
We never lended it - the rack is for our business use only. The replacement value now would be up to $15,000 including certification.
JACUSTOMER-4ujivxgc- :
Oops - that should say loaned not lended.
christhelawyer :
I assume the former directors would confirm that it is yours. Do you have the receipt when you bought it or manufactured it? they would be useful. In an ideal world you would register a loan on the Register, but if this was never theirs, then the receiver should return this. See what their lawyer says, but be aggressive about demanding return-tell them you will complain to the Police (although they may not be interested). Ultimately you may have to bring a claim for return-this would be able to be delat with in the Disputes Tribunal.
JACUSTOMER-4ujivxgc- :
Thanks - I don't get the bit about registering a loan on the register - there is no debt on the racks and they were never on hire to the helicopter company.
christhelawyer :
The register is not just for loans. Equipment which is rented is also capable of being registered even though title has not, and will not pass. It avoids this sort of problem.
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 32,268
Experience: 42 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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