Can I Repossess & Ifso, How?

[YCntWeJstGtAlng]

What is the name of your state? CALIFORNIA

I recently ended a relationship. Over the course of the 4 yrs, I LOANED Dan a substantial amount of monies. Dan has not been meeting his obligation to repay me, no payment having been made in 4 months. Part of the money he borrowed was $5,000.00 to purchase a telescope. I paid for the scope -the checks I wrote specifically state 'LOAN' in the memo- with the understanding that the telescope, tho' the warranty paperwork was put in his name, remained in my possession til his debt was paid in full. However, about 2 months ago I allowed him to temporarily store this very large instrument at a friend's home while major remodeling was being done on my home. We were concerned about the difficulty of shuffling it around & accidental damage by the construction crew after a pinball machine was accidently knocked over, destroying it. Of course, now that I have kicked him out, he refuses to return the telescope to my house. Dan has only paid less than $1000.00 toward the approximate $10,000 (conservative estimate) owed. The telescope & his truck are the only items he has of any real value. I would like to repossess the telescope & either hold it til the debt is paid off or, should he fall grossly behind in payments, sell it to recover my money. What do I need to do in order to do this legally, thus compeling him to surrender the telescope?

Thank you for your time & kind attention to my inquiry!

 

[Ohiogal]

What is the name of your state? CALIFORNIA

I recently ended a relationship. Over the course of the 4 yrs, I LOANED Dan a substantial amount of monies. Dan has not been meeting his obligation to repay me, no payment having been made in 4 months. Part of the money he borrowed was $5,000.00 to purchase a telescope. I paid for the scope -the checks I wrote specifically state 'LOAN' in the memo- with the understanding that the telescope, tho' the warranty paperwork was put in his name, remained in my possession til his debt was paid in full. However, about 2 months ago I allowed him to temporarily store this very large instrument at a friend's home while major remodeling was being done on my home. We were concerned about the difficulty of shuffling it around & accidental damage by the construction crew after a pinball machine was accidently knocked over, destroying it. Of course, now that I have kicked him out, he refuses to return the telescope to my house. Dan has only paid less than $1000.00 toward the approximate $10,000 (conservative estimate) owed. The telescope & his truck are the only items he has of any real value. I would like to repossess the telescope & either hold it til the debt is paid off or, should he fall grossly behind in payments, sell it to recover my money. What do I need to do in order to do this legally, thus compeling him to surrender the telescope?

Thank you for your time & kind attention to my inquiry!

How was there an understanding the telescope remained in your possession? Was it writing? Was there anything stating that the telescope secured the loan? If not you may be out of luck for seizing the property.

 

[acmb05]

What is the name of your state? CALIFORNIA

I recently ended a relationship. Over the course of the 4 yrs, I LOANED Dan a substantial amount of monies. Dan has not been meeting his obligation to repay me, no payment having been made in 4 months. Part of the money he borrowed was $5,000.00 to purchase a telescope. I paid for the scope -the checks I wrote specifically state 'LOAN' in the memo- with the understanding that the telescope, tho' the warranty paperwork was put in his name, remained in my possession til his debt was paid in full. However, about 2 months ago I allowed him to temporarily store this very large instrument at a friend's home while major remodeling was being done on my home. We were concerned about the difficulty of shuffling it around & accidental damage by the construction crew after a pinball machine was accidently knocked over, destroying it. Of course, now that I have kicked him out, he refuses to return the telescope to my house. Dan has only paid less than $1000.00 toward the approximate $10,000 (conservative estimate) owed. The telescope & his truck are the only items he has of any real value. I would like to repossess the telescope & either hold it til the debt is paid off or, should he fall grossly behind in payments, sell it to recover my money. What do I need to do in order to do this legally, thus compeling him to surrender the telescope?

Thank you for your time & kind attention to my inquiry!

you have to take him to court and win a judgement before you can even attempt to get any of his stuff to pay you back. If you win in court then you can use any means legally available to get your money such as go after his bank accounts.