Fraudulent Disposition Of Property Subject To A Conditional Sale Contract: NY Penal Law § 185.15

A conditional sale contract involves a transaction where the buyer gains possession and usage rights of the property, while the seller retains title until a specific condition is fulfilled, typically full payment by the buyer. If the buyer transfers or disposes of the property before meeting this condition, it could be considered fraudulent.

In accordance with New York Penal Law § 185.15, individuals who, as buyers in a conditional sale contract, sell, mortgage, destroy, or otherwise dispose of the property subject to the contract, claiming full ownership and intending to defraud another, may face charges for fraudulent disposition of property under a conditional sale contract.

Sentence

Fraudulent disposition of property subject to a conditional sale contract constitutes a class A misdemeanor in New York. A conviction for this offense may result in a potential jail term of up to one year, as well as the possibility of a probationary period lasting up to three years and financial penalties in the form of fines.

New York Penal Law § 185.15: Fraudulent disposition of property subject to a conditional sale contract

An individual commits the offense of fraudulent disposition of property subject to a conditional sale contract if, prior to fulfilling the conditions outlined in the contract and while acting as the buyer or any rightful successor, they engage in activities such as selling, assigning, mortgaging, exchanging, concealing, damaging, destroying, or otherwise disposing of the property subject to the conditional sale contract, all while falsely asserting full ownership with the intent to defraud another party.

Related Offenses

• Fraud in Insolvency: New York Penal Law § 185.00
• Fraud involving a security interest: New York Penal Law § 185.05
• Fraudulent disposition of mortgaged property: New York Penal Law § 185.10

Hiring A New York Lawyer

Hiring a New York lawyer for a fraudulent disposition of property subject to a conditional sale contract case is crucial. Such legal matters demand expertise in state-specific laws and regulations. A skilled attorney can navigate the complexities of the case, protecting your rights and interests. They will investigate the alleged fraudulent actions, gather evidence, and build a strong defense strategy. Additionally, a New York lawyer will understand the nuances of conditional sale contracts and applicable statutes, ensuring the best possible outcome. With their guidance, you can mitigate potential penalties and work towards a fair resolution in this challenging legal situation.