I sold a landscape business to an individual in 2011. We made a contract stating the terms for payment and listing all property included in the purchase. The contract was signed, dated and witnessed by a 3rd party as well as the puchaser and myself. The contract specifies that I have a lein against the physical property that was purchased until the terms are satisfied. The purchaser is currently extremely delinquent and has also sold some of the physical property ( a trailer ) but did not use the proceeds from the sale for payment to me.The purchaser owns several assets, can I force sale of these? What are my options at this point? BTW I live in North Carolina. Thanks for any help.
1 Answer from Attorneys
There are a lot of things that you can do to protect the rights which you acquired in the sale of the business. We represent a lot of people who have sold their businesses that have issues after the sale. To advise you better, we would need to see the documents. Do you know if you filed any papers to lien the property which you sold?
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