Legal Question in Real Estate Law in Pennsylvania

Re: Property sold with real estate

You asked about loaned property "sold" in business acquisition.

Both parties are right. The CDs may have been loaned but the purchasers of the property have the right to claim the CDs if they were not specifically excluded from the sale.

You have only one realistic solution given your failed attempts to retrieve your property: Suit against your friend for return or replacement of the loaned property. You have no standing to sue the purchaser. They didn't have any agreement with you and they believed they were a bona fide purchaser for value. In fact, if the purchaser does end up returning the CDs then they have the right to seek recourse from the seller.

Good luck,

Roger

Re: Property sold with real estate

Lets use some common sense here... FIRST, go to the friend and tell them to help you straighten this out. Put things in writing, so you have a paper trail of this friend admitting the CD's were loaned to them/the business because your child was attending there. If your friend can not resolve the problem for you, MAKE THIS THEIR PROBLEM, NOT YOURS - file suit, name the friend AND child care facility. You should be able to do this in Small Claims (if the value of the CD's is under $5,000) or Special Civil Part of the Courts (if under $15,000). They have forms at the courthouse. File in the county where the child care facility is located. Ask for the return or the current cost to replace the CD's. Let the judge tell them which one of them has to pay!