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Legal ownership of handsets on financing

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  • 13-11-2019 6:24pm
    #1
    Elite Woad Raider
    Closed Accounts Posts: 77 ✭✭


    Who legally owns an unpaid handset on financing?


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    #2
    Mr. Incognito
    Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    The financer.

    Hire purchase agreement no doubt


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    #3
    Elite Woad Raider
    Closed Accounts Posts: 77 ✭✭Elite Woad Raider


    So if the purchaser goes bankrupt before the item is paid for he must return the item to the financer?


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    #4
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 18,710 Admin ✭✭✭✭✭hullaballoo


    It depends on the finance agreement but as above, in a bog standard HP agreement, the seller retains title in the property (car, handset, lawnmower etc.)

    Again a bog standard clause will have personal insolvency as a trigger for possessory interest to revert to seller also meaning that the seller can take the item back. If there was not such a clause or the clause was somehow unlawful, the seller would still probably have the right to take the item back.


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