Legal Question in Legal Ethics in Florida

Lease Default

Can I take possesion of equipment that I was the personal guarantor of for it's lease. The compnay has told me that if I return the equipment that will seetle the debt. The new owner of the business says it is his because it was there when he purchased the business.


Asked on 7/11/07, 10:14 am

1 Answer from Attorneys
Johm Smith tom's

Re: Lease Default

Unless this was some sort of lease to own scheme, the buyer can't buy what the company doesn't own. The equipment was leased not owned by the company. Buyer took over the lease, but if you withdraw your guarantee the owning company would simply take the equipment back anyway.

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Answered on 7/11/07, 11:09 am


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