I run a moving and storage company, and recently sold a piece that was unclaimed for over 2 years. Now the owner has come forward after 3 years, and wants it back. What should I do?
If you did not follow the procedure for abandoned property, you probably owe him the value of what was sold. If you followed the statutory procedure, then you owe him nothing.
Did you have an agreement with him that stated you could sell the property if not claimed in two years?