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  1. #1
    Join Date
    Sep 2016
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    13,916

    Default Can Somebody Hold Your Property Until You Pay Back a Loan

    A man who was in a difficult situation asked a friend to hold some valuable property for him. He later borrowed money from the same friend. Now he wants his property back, but the friend says that he can't have it until he pays back the loan. How can he get his property?

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
    Posts
    98,846

    Default Re: Can Somebody Hold Your Property Until You Pay Back a Loan

    Among the options that come to mind....

    1. He can convince his friend to return the property, or perhaps offer different property that the friend can hold while he works to pay off the loan. That may be more viable if he pays off the loan in part.

    2. He can see if the police will help him recover the property; but there's a substantial chance that the police will call it a "civil matter" and decline to involve themselves.

    3. He can sue his friend for the value of the property or for the return of the property. If he does so, he can expect to be counter-sued for the money he borrowed but has yet to pay back.

    Any option other than #1 is likely to end the friendship, if one still exists.

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