Legal Question in Bankruptcy in Utah
Repossesion of Computer??
Hello, My question deals with a repossesion question. I bought a computer some time ago on credit and became tired of it. I sold this computer to a fellow student and bought a newer more powerful computer. I then defaulted on the payment of the computer I sold. Does the company have the right to reposses the computer from the student I sold it to or do they only have the right to sue me for default? I'm just a little confused. The student I sold it to had no idea of the of the security interest that I owed. Can they still repo the computer because the security interest was perfected before the students purchase of the computer from me?
1 Answer from Attorneys
Re: Repossesion of Computer??
If the security interest was perfected before you sold it, the company is entitled to repossess it. You had no right to sell it without either paying it off or warning the new buyer.
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