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An interesting conundrum has been posted on UK Business Forums - it's too complicated to post it here so check it out over there and let us know your thoughts? http://www.ukbusinessforums.co.uk/forums/showthread.php?p=1342117#post1342117

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  • I'm not sure - may have to double check unless anyone else knows, but if its in the t & c 's that the property remains yours until the final / completion of payment, it is just that. As such the property can't be 'inherited' or transferred without your prior consent and agreement.
    I was informed this be a collections agency, who explained that a bailif cant touch property brought on finance / credit etc until the supplier (owner) has been paid.
  • PRO
    I remember somone telling me that in the road construction industry it is common that if a company goes bust that there property that is left on site becomes the property of any other contractors left on site. Resulting in a mad rush if a company goes bust to get there kit off site before it is claimed.
  • From what I can remember of what I learned years ago you have a lein on the property as an unpaid vendor.
    If you have in your terms conditions that all property remains your property until paid for in full this helps.
    You cannot just fetch an item from someones property but as I understand it if you take an item back to repair it or adjust it you can then hang onto it until paid for.
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