Exclusions?

[McClelland]

What is the name of your state? Colorado.

On October 1st, 2005, my wife and I closed on a house. There was an exclusion in the contract (an old generator-1979!) which we were happy not to use. The previous owner said that they could not remove it because of bad weather...we thought the weather was fine...cold, but not stormy. We spoke with the previous owner and said it was "okay" to leave it on the property for a while (I wish we would have put a date on it). The contract said that the exclusion should be removed prior to closing. We closed 10/1/05.
After a year of storing the generator with no contact, we decided to get rid of it, so we did. We had heard that the previous owner moved out of the country and they had mentioned that would probably be the plan the last time we had spoken.
Well, a week before Thanks Giving, the previous owner called me demanding the generator back because it was worth $2,000!. I looked up the value of it prior to getting rid of it and it's value was in the $200-400 range (on-line and speaking with generator dealers). Now they want to sue us for $2500 to replace the generator.
They say they tried to contact us but we did not return their contact. We received no calls, no letters, no visits. They did however, send a email to a discontinued email, which should have been forwarded to our new email, but for some reason, was not.
Is the "property/generator" considered to be abandonded after one year? Should we try to get the generator back? If so, could we charge them for storrage?
Thanks!What is the name of your state?

[lcannister]

Tell them to take you to court, they will be awarded the depreciated value and you countersue for storage, then let a judge decide.