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  1. #1
    Join Date
    Aug 2019
    Posts
    1

    Default Repossesion

    My question involves business law in the state of: California

    I have a business that has a retail location. My lienholder is telling me that if I default, I cannot take anything out of the shop. I brought several things from my previous business. Am I able to keep the things I brought that were not part of what I bought? The contract only stipulates the equipment that was here before I bought it and nothing more.

    What can I move out?

    Thanks
    Eric

  2. #2
    Join Date
    Oct 2016
    Posts
    3,149

    Default Re: Repossesion

    I would move your personal property that isn't part of the lease out prior to default. While he should have no claim on your property you don't want him putting a lock on the door you can't open.

  3. #3
    Join Date
    Jul 2018
    Posts
    1,544

    Default Re: Repossesion

    Quote Quoting Eric H
    View Post
    My lienholder
    Please explain exactly what this means. What sort of lien does this person/entity have and what property is covered by the lien? What did this person/entity do that resulted in you giving him/her/it a lien?

    Without the answer to this, it is impossible to answer your question intelligently.

  4. #4

    Default Re: Repossesion

    hey,

    Repossession, colloquially repo, is a "self-help" type of action in which the party having right of ownership of the property in question takes the property back from the party having right of possession without invoking court proceedings.

    thanks and regards.

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