Legal Question in Business Law in Pakistan
one person sell his property to another person, after it property use for someone it was discovered the that it was stolen property
what are the right and liabilities of parties?
who is true owner of the property?
1 Answer from Attorneys
Law of equity says the orginal owner from whose custody the object was stolen from is still the owner without any doubt. the person who stole it and sells it as its own (is the guilty party and can be procecuted once action is taken )and the purchaser of this object is the purchaser in vaccume and incurrs no right whatsoever. if it was known to the puchase that he is buying a stolen property than he is guilty of offence too.other wise he has to prove the actual scenario.if still no criminal proceeding initiated and the subsequent so call purchase wishes to settle the issue then ( one way of doing it to by filling an interpleader suit) if out of the court solution is not viable.
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