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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Post Foreclosure Laws Posted by Tarun (DE) on April 18, 2003 at 6:46 AM I saw the following posting and an answer from someone earlier last month: ": What is the proper disposition for personal property, cars etc., left behind in or on the property after owner's voluntarily vacate the property due to change of ownership by trustee sale? Thanks for your valuable forum! =•=•=•=•=•=•=•=•=•=•=•= Jim, In just about every state I know of you’re charged with a constructive trust to care for the abandoned personal property that’s left behind. So be sure to put it in a secure, weather-tight place. Then send a notice of the abandoned property to the last probable owner (the foreclosed homeowner). Yes, I know. That means mailing the notice to the address of the foreclosed property. It makes sense though since the departed owners probably have filed a forwarding address with the post office. Here in CA the notice requires you wait 15 days, (plus 3 more days if you mailed the notice) before you can dispose of it. And in CA, after the 18 day warning, you can do just about anything with abandoned property that collectively is not worth more than $300 . But if the abandoned personal property is worth more than $300, then you’re required to have an arms length auction and sell it to the highest bidder. Then after deducting the cost of sale, storage, etc. if there’s any surplus you have to deposit it with the county in which the property is located. Licensed cars, trailers, vehicles, boats, airplanes, etc. have to be cleared through your Department of Motor Vehicles. These licensed items are handled differently than furniture. So find out the local service that processes the paperwork for local garages that have impounded vehicles they’ve repaired for lack of payment by their owners. They’re ultimately sold at auction for their debt and storage charges." ---------------------------------------------------------------- I was wondering if someone knew what the time frames and $ limits were in the state of Delware for a similar situation after a foreclosure sale and its confirmation. Thanks, Tarun Follow Ups: Re: Post Foreclosure Laws B Stonebridge 9:20 AM, 07/18/03 (1) Do a deed-in-lieu of foreclosure.. Ward-CA- 11:01 AM, 07/18/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I saw the following posting and an answer from someone earlier last month: : ": What is the proper disposition for personal property, cars etc., left behind in or on the property after owner's voluntarily vacate the property due to change of ownership by trustee sale? Thanks for your valuable forum! : =•=•=•=•=•=•=•=•=•=•=•= : Jim, : In just about every state I know of you’re charged with a constructive trust to care for the abandoned personal property that’s left behind. So be sure to put it in a secure, weather-tight place. : Then send a notice of the abandoned property to the last probable owner (the foreclosed homeowner). Yes, I know. That means mailing the notice to the address of the foreclosed property. : It makes sense though since the departed owners probably have filed a forwarding address with the post office. : Here in CA the notice requires you wait 15 days, (plus 3 more days if you mailed the notice) before you can dispose of it. And in CA, after the 18 day warning, you can do just about anything with abandoned property that collectively is not worth more than $300 . : But if the abandoned personal property is worth more than $300, then you’re required to have an arms length auction and sell it to the highest bidder. Then after deducting the cost of sale, storage, etc. if there’s any surplus you have to deposit it with the county in which the property is located. : Licensed cars, trailers, vehicles, boats, airplanes, etc. have to be cleared through your Department of Motor Vehicles. These licensed items are handled differently than furniture. : So find out the local service that processes the paperwork for local garages that have impounded vehicles they’ve repaired for lack of payment by their owners. They’re ultimately sold at auction for their debt and storage charges." : ---------------------------------------------------------------- : I was wondering if someone knew what the time frames and $ limits were in the state of Delware for a similar situation after a foreclosure sale and its confirmation. Thanks, : Tarun Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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