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Answered in 10 minutes by:
7/16/2020
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 32,025
Experience: 42 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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I am a New Zealand lawyer based in Wellington and will help you with your question today. Please give me a minute to read the question
There are some difficult issues. You cannot hold equipment as security for the arrears of rent unless your tenant has specifically agreed. I suspect in these circumstances he has just gone along with what you have done. You also cannot keep the forklift as an exchange for the arrears of rent, unless the tenant specifically agrees. This means that unless there are such agreements you do not have the right to keep the forklift. If that other person claims some security interest in the forklift, they may be entitled to pick it up, subject of course to proving that they do have a proper claim. An invoice would not be sufficient to make a claim to pick up the forklift. My recommendation is that you should talk to the tenant and get a specific agreement that the forklift can be retained by you in exchange for the arrears of rental. But you might also want to check the personal securities register to see if there is any security registered against the forklift
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 32,025
Experience: 42 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
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