Legal question here: I recently bought a store, from another owner. Both me and the seller signed legal documents saying that the seller did not have any liens or debts he owed to anyone. Completion of sale goes fine. Fast forward to three months after the sale....I get a call from another person saying that the previous owner financed the store from him, and owes him some money. He cannot reach the previous owner anymore, and thus has contacted me. This man tells me if I don't respond in a few days that he will begin legal proceedings to foreclose the store. Am I responsible for the previous owner's debts to this man? Thanks.
Sounds to me like if you were to some how buy a car from a person that had it financed from a bank.. doesnt matter how they sold it to you the BANK still owns the car and not you and they can do what they want with it... I would try to make sure this is legit, but you may need a lawyer on this one..
When you say foreclose the store, I assume you're talking about the merchandise inside it and not the actual "store?"
how 'bout that restraint!!?? i was tempted. but in all seriousness..you do really need to get to an attorney on this. this issue will require a bit more thought and attention than a message board can provide.
btw ..assuming you didn't go through title (which it sounds like you didn't) .....just because the seller signed a document declaring the property free of liens, it doesn't protect the property from reposession someone can't lie like that and screw a lien holder out of their property, whether they signed a document or not I would guess that if you found out there were liens, and the seller never told you, then you would have to take your losses up with him in court
Geez Max, I didn't think you'd resort to clutchfans to solicit clients...Did those ambulane companies finally get restraining orders against you?
I'm officially done commenting in ANY thread seeking legal advice!!! Even to tell people they should seek counsel!
Excellent restraint! I was tempted too, but I've decided to refrain 99% of the time from offering legal opinions on people's real life issues. Not because I'm worried about malpractice, but because I'd hate for someone to rely on advice they got from a BBS lawyer who was speaking "off the cuff" and didn't have a full set of facts to base a definitive opinion on.
That's why I asked if we're talking about store merchandise here. Title covers the real estate, not what's inside of it. If this is a clothing store, for example, the shirts, pants, socks, shoes, etc. are not covered.
