Legal Question in Real Estate Law in California

A friend borrowed money from me last June she said that she will pay me back in 5 days and as good faith she left me a "painting" she told me was worth a lot of money for it. (not sure if that is true) but now she wants her "valuable painting" back without paying me the money, she even hired an attorney claiming that I am holding the painting as ramson for the money she owes me. They are threating me to file a law suit againt me for the paiting. Do I have any rights? I am a U.S. citizen she is only a residen in this country, what can I do?...I really can't afford an attorney if she takes me to court I will have represent myself...please please help.

Asked on 1/31/13, 9:46 am

2 Answers from Attorneys

Robert Kubler The Kubler Law Firm

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Does her attorney say its being held in ransom? Ridiculous. It was security on a loan that the client apparently has defaulted on. That "in good faith" means she pledged that property as security for a loan and its in your possession now. I believe the notice requirement is 10 days to inform them that they defaulted and must pay the amount due or you can do what you want with the painting.

You might want to wait and see if any other attorney chimes in here or seek local help.

Answered on 1/31/13, 3:24 pm

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