In OH, I bought a business on land contract 2 1/2 years ago with a three year baloon. Bank now will not finance (tightening of belts - and I went to three banks), so at the end of season (ice cream biz) I shut the place down and we decided to walk away, since the land owner did not want to renew the terms and extend the contract. There was no bill of sale or details for "all equipment included in sale" stuff, so as things broke, we replaced everything, and added to building (exhaust hood, fire supression, etc). Then when we shut down, we took all we had purchased during that time. Anyway, now the guy is ticked and is trying to get us criminally and civilly for "theft" of what he has liened with the bank from HIS purchase. We have receipts for everything that was purchased during our ownership. Any advice from those in the know?
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