Legal Question in Real Estate Law in California
If I sold a bike at a pawn shop 24 hours ago. can I renig on the sale and get my bike back?
2 Answers from Attorneys
People don't normally sell things at a pawn shop. They leave things at the pawn shop in return for a loan. They can then return and collect the item by paying the redemption amount. If they don't return with the payment, the item is sold. So you should be able to go back and redeem your item by paying what you agreed when you pawned the bike.
Did you sell it or pledge it as collateral for a loan? If the latter, you can simply redeem your pledge ubder its terms. If you sold it, which is a bit unusual, they'll probably sell it back to you, but the shop has the right to set the price, which will include a profit....if they haven't already sold it to someone else.