Legal Question in Real Estate Law in Michigan
forfeitureof personal property{equiptment)
I have a contract (asset purshase agreement) he was to pay final payment on aug 22,06 he didnt now he is trying to sell my equiptment. In the agreement it says if he didnt pay he had to return equitment how can i claim my stuff
1 Answer from Attorneys
Re: forfeitureof personal property{equiptment)
I assume you had an attorney involved in this transaction and that he/she wrote the asset purchase agreement. If not, you can anticipate numerous problems as these are transactions are ripe for unanticipated problems. If the transaction was properly conducted by an attorney, you should have a security interest in the equipment, and can take the property back by taking certain legal actions. Otherwise, you will need to hire an attorney to try to fix the problem.
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