Legal Question in Consumer Law in New York

Re: Out of state purchase of used eqpt

Dear Reader:

In examining this response, please note that we are not entering into an attorney/client relationship, that this is to be taken as informative, and not as legal advice, that it is always best to speak to a lawyer in your area and/or in the area where the transaction and/or events occurred, and that my answer is necessarily limited by the fact that I have not seen the documentation or had an opportunity to go over the matters with you in detail.

It is hard to make out what you are saying, but it sounds like you are trying to buy equipment that is still on a lease.

Don't do anything until you do your homework. Is the equipment in good shape? Are there other liens on it? Whose "standard form" are you using, and what does it say?

Equipment is unlike cars because there is no title certificate to reveal loans on it. There is a complex Uniform Commercial Code filing system that ordinarily you would hire someone to check for liens.

Also, you will need various statements from people indicating that they guaranty there are no liens on the equipment, and usually they should be rich enough and honest enough to pay you back if it is false.

Also, see when the lease ends. It may not do you any good to buy equipment if the lease doesn't end soon and can't be broken.

Good luck.

As I mentioned before, this is something that you will want to take up with a lawyer of your own selection, either in your state or area or in a place where some of the pertinent events occurred.

Rod Kovel Attorney at Law 516-312-9900