I purchased a video and tanning salon on a contract for deed. Can I sell my tanning beds and then give the business back?

I purchased a video and tanning salon o a contract for deed. Can I sell the tanning beds off then give it back?

No, because you don't own the business or its assets until the contract is completed.

Please don't post your question multiple times.

If you want out of the contract you need to read the contract. Most contract for sale provide for the buyer to cancel the contract but forfeiting any monies paid and the seller regains control.

Agreed, in a contract for deed, you are not the owner of anything.

If you "bought the business" for cash and had a contract for deed for just the property that would be another issue.

But if your contract is for the entire business, the seller still owns everything until you pay off the contract

Hello t:

That's like buying a car, stripping it, and letting it get repossessed. It's stealing. How is it, that you don't know that?

excon