E
echo02
Guest
What is the name of your state? Virginia
My husband runs a tree service and purchased a stump grinder about 3 months ago from an aquaintance that was going out of business. He took out a loan at the bank for this purchase. He also has a receipt for monies paid to this gentleman. We found out today through word of mouth that the police are now searching for this stump grinder because the previous owner defaulted on the payments. My husband had no idea there was still money owed on it before he purchased it. Does he have a legal leg to stand on or will the property simply be confiscated leaving my husband out of the money he's already paid the previous owner and still owing the bank loan?
My husband runs a tree service and purchased a stump grinder about 3 months ago from an aquaintance that was going out of business. He took out a loan at the bank for this purchase. He also has a receipt for monies paid to this gentleman. We found out today through word of mouth that the police are now searching for this stump grinder because the previous owner defaulted on the payments. My husband had no idea there was still money owed on it before he purchased it. Does he have a legal leg to stand on or will the property simply be confiscated leaving my husband out of the money he's already paid the previous owner and still owing the bank loan?