Ratings. Guidance. The Right Lawyer.
EQUIPMENT FINANCE/LEASING
Camarillo, CA
Viewed 235 times.
Posted about 1 year ago in Debt / Lending Agreements
Flag as objectionable
My husband and I bought a company about 1 and a half ago. The owner never signed over the leases on some printing equipment to us. Even though it was written into our contract that we should be assigned the lease and the contract was sent to our seller. He never executed the contract and so the lease remains in his name.
Question: Are we required to keep paying on this lease?-(it is for equipment we do not want and is a financial drain on us) The seller has recently passed away. - Is this your question? Add additional information Answers (2)
Michael E Hendrickson
This attorney is licensed in Dist. of Columbia.
Posted about 1 year ago.
Flag as objectionable
Why would you have to continue paying for equipment covered in a lease which was never properly executed so that the responsibilty becomes yours?
Call up or write to the owner(s) of this equipment and tell them to come and get the stuff by a date certain. 
Dana Howard Shultz
This attorney is licensed in California.
Posted 6 months ago.
Flag as objectionable
I agree, largely, with the first contributor. Because of the seller's failure to assign the lease, it is not your responsibility to pay the lessor. The lessor, presumably, would go after the seller's estate. If that happened, the representative of the estate might come after you. But you might as well just wait for that to happen (if it ever does).
Disclaimer: This post does not constitute legal advice and does not establish an attorney-client relationship. |
