Selling of property


#1

Prior to seperation, my ex and I had purchased equipment for a business we opened up. Initally spouse took out loan at a bank in his name, his father put up a CD for the loan. Later the father in law decided to pay the loan off because he didn’t like the interest being charged. Spouse said he would repay him for the loan.

A few months before the seperation, the business was closed. I have recently been able to sell some of the equipment. Now my spouse has threatened to have me arrested on the grounds that the equipment belonged to the father in law. The equipment is registered with the State in my name and there is no contract or agreement or anything in place that ties the equipment to the father in law except what I think is blind faith that he would be paid back.

Where do I stand in this?


#2

Unless the father in law had a recorded security interest in the equipment you are not guilty of any wrong doing.