1. Free Legal Help, Legal Forms and Lawyers. TheLaw.com has been providing free legal assistance online since 1995. Our most popular destinations for legal help are below. It only takes a minute to join our legal community!

    Dismiss Notice

Stripping a Business in foreclosure!

Discussion in 'Foreclosure, Repossession, Auctions, Short Sales' started by Foodie, Apr 17, 2012.

Thread Status:
Not open for further replies.
  1. Foodie

    Foodie Law Topic Starter New Member

    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    0
    We have a business we sold and is now coming back to us. There is less than 30 days left on the contract for deed, but the promissory note has already expired. Now the current business owner is stripping the place. We will receive it back it unsalable or unusable condition if we can't get in there and prevent this. What options do we have legally to stop/reverse this? It is a bar and grill, so he's taking big screen tv's, appliances, tables etc. It was sold to him with over 20k in inventory alone not to mention working equipment and Point of Sale system. He also was left with a fully trained staff and loyal clientele... Now the reputation is trashed, the employee's have scattered and he has 30 days to strip the place?
    any feedback would be appreciated, thanks.
     
  2. army judge

    army judge Super Moderator

    Messages:
    32,491
    Likes Received:
    4,951
    Trophy Points:
    113

    He's taking his stuff.
    How do you propose to use the law to prevent him from availing himself of his legal rights to dispose of his property?
    No need to answer, you can't and the law won't.
     

Share This Page

Thread Status:
Not open for further replies.