State of New Hampshire v. Lisa Collyns, 166 N.H. 514

On July 30, 2010, victim agreed to sell her restaurant to Collyns; ownership remained with victim if balance due not paid by Sept. 1, 2010.
In Sept. 2010, parties renegotiated into a second purchase and sale agreement; Collyns promised to pay $500 monthly until $19,500 was paid, and ownership would belong to the victim until balance paid.
The second agreement created a security interest in the restaurant equipment; Collyns paid monthly through Jan. 2011.
December 2010 landlord eviction notice and rent demand led to a sale advertisement of equipment by a friend; a buyer paid and collected receipt signed by Collyns, but equipment remained.
The State charged Collyns with attempted theft by unauthorized taking and theft by deception; jury found guilty on both counts; trial court denied motions to dismiss and to set aside the verdicts.
The court ultimately held there was insufficient evidence that the equipment was the victim’s property of another under RSA 637:2, IV, because the victim only had a security interest under the second agreement and thus reversed the attempted theft conviction and remanded.

Issue	Plaintiff's Argument	Defendant's Argument	Held
Whether the property was the victim’s property of another under RSA 637:2, IV	State: equipment not ‘property of another’?	Collyns: victim’s security interest excludes ownership	Yes; insufficient evidence; reversed and remanded

State v. Gagne, 165 N.H. 363 (2013) (definition of property of another and security interest analysis)
State v. Schmidt, 957 A.2d 80 (Me. 2008) (security interest can defeat property interest in theft context)
Sommers v. Sommers, 143 N.H. 686 (1999) (stipulation with security-like interest; instruction on security interest impact)
Cutting v. Whittemore, 72 N.H. 107 (1903) (vendor retains security interest when title reserved until purchase price paid)
ACG Credit Co. v. Gill, 152 N.H. 260 (2005) (no security interest where underlying obligation not established)