Legal Question in Constitutional Law in Minnesota

Contract

We sold a business contract for deed. The new owner could

not pay her rent for the leased space nor continue making payments to us on her contract. She shut the business down and the owners of the mall she was in will not release the

equipment to us because she owes back rent. Since she still

owed us alot of money for the equipement and because the lease at the mall was with her and not us, technically we still own the equipment and they need to find another way

to collect back rent right?

since we paid for it and not her.


Asked on 6/13/02, 10:24 am

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Contract

Unfortunately, no. The landlord has the right to 'distrain' [means hold] the equipment until the rent is paid. Only if you filed a financing statement under the UCC with the Secretary of State and served a copy on the mall could the matter come out otherwise. The landlord may "hold for ransom" the lessee's interest in equipment on the leased premises until all rent is paid.

Read more
Answered on 6/13/02, 12:15 pm


Related Questions & Answers

More Constitutional Law questions and answers in Minnesota