Possible forced sale of personal property, including coin collection.
SanctionII
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I am handling a legal dispute for a client. The person my client has a dispute with is a very difficult person who has choosen to proceed without a lawyer. He was evicted from some raw land he sold to my client yet he left a large metal storage container on the land. My client opened the container and moved all of the contents into storage. If the person who was evicted does not come and take possession of the personal property from the storage facility, it will be auctioned at a public sale. Included in the personal property is five storgage boxes full of a collection of coins and currency (US and dark side) going back into the 1800's (copper, nickel and silver coins, both circulated and MS). A stamp collection is also present.
If the guy does not come and take possession of the personal property, this could get very interesting.
If the guy does not come and take possession of the personal property, this could get very interesting.
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however,contents of those are sold sight un-seen are they not ?
on the other hand,he was evicted from the land and i dont think the client could just seize the personal property,thats more like abandoned property and would be echeated to the state.
would think the client could do no more than charge for storage and likely would have to surrender the property to the state or the defendant.
Just my .02
TorinoCobra71
If you are you better check out your State's Escheat laws. This stuff probably should have been turned over to the State.
If you're a lawyer, you may find yourself defending your client over his actions.
Ray
<< <i>If you're a lawyer, you may find yourself defending your client over his actions >>
yeah, i don't know all of the details on storage unit cleanouts, but i know there are plenty of
them.
If i'm not mistaken, anything above and beyond what the back storage rent and liquidation fees is
supposed to be returned to owner of said property. Of course, this rarely happens in practice.
My information is highly suspect, but it seems i remember hearing this before.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
If the owner of the property does not reclaim and take possession of the property within the 15 or 18 day period of time, the Plaintiff in the eviction lawsuit can, in cases where the property is worth $300.00 or less, throw it away, give it away or keep it. In cases where property is worth more than $300.00 the Plaintiff in the eviction lawsuit can hold a public auction of the personal property. The bidders at the public auction become the owners of the property sold, the purchase price is used first to pay for the cost of the auction, second to pay for the moving and storage costs incurred by the Plaintiff in the eviction lawsuit and third, any remaining money belongs to the former owner of the personal property. If that person is not around, the money is to be deposited into a bank account in the name of that person. If the money in the account is not claimed, it will eventually escheat to the state.
The above is different from a situation where the owner of the storage facility does not get paid the rent owed to him under the storage contract and proceeds to sell the contents.
Hope this clears things up. As stated initially, if the owner of the personal property does not reclaim same (he may just blow off all of the personal property and go on to the next phase in his life), my client's recourse will be to proceed with a public auction. As I said, things may get interesting.
or at least tell us where the auction listing will be publicised as a matter of public record (im sure thats required in california) as im sure all paralegals and council use the Podunk Weekly Bulletin for such things and we all know where to find a copy of that !
It appears that the coins in the five boxes have been organized into envelopes by date and mintmark (with the dates and mintmarks noted on the envelopes) and that the envelopes go from present back to the 1800's. If an auction is held, the winner could spend days just looking through things to determine what is there.
My Auctions
I expect that later today the boxes of coins will be delivered to my office by my client for safekeepping while the legal dispute progress toward settlement or public auction of the personal property. When the boxes are delivered, I think a little time spent to inspect the contents would be in order. One never knows what type of coins will be in the boxes.
Another update will be forthcoming, stay tuned.
Jerry
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
The boxes of coins will not be delivered to my office today. I will not get to see them until next Monday morning. I guess I know what I will be thinking about over the next few days (either finding a bunch of coins suitable for a dealer's junk box or spending at face value; or finding a bunch of pristine, original MS coins from cents to dollars dating from the 1800's forward; or probably something in between the two extremes).
Darn it, I am getting very impatient.
Defendent still owns the property,unless he his deceased,then ya look for heirs.
After that the state escheats the estate if he died without a will or the heirs probate the estate.
if he has died with no will and no heirs he is indestate and California gets it anyway.
Got yur hands full i think.
However, my client had to move the personal property off of the land and into storage. If the guy who owns the personal property does not claim the personal property by paying my client's moving and storage costs and taking possession of the property, my client can have the personal sold at a public auction to recover his moving and storage costs. I summarized things in a prior post to this thread on Monday.
In answer to a couple of other prior questions:
1. No I do not have the case on a contingency (real property evictions are not contingency type cases, they are hourly fee or flat fee cases); and
2. My client is not getting estimates, other things have come up with him and me that prevented me from looking at the coins today.
5 boxes of US and World Coin and currency has been delivered to me. I am just starting to inspect the first box. A look into the 5 boxes reveals coins and currency dating back to the 1800's. Lots of rolls of conis, including some that appear to be OBW. The currency has some dating from WWI to WWII, including Japanese occupation currency.
I will start a new thread on this with a more interesting title. For me, the afternoon will be spent looking at coins and currency. Stay tuned.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
However, I got a call from another client and was told that they also had to move contents of a house they bought at a foreclosure sale into storage after an eviction took place. The contents are numerous and according to my client, valuable. I may have to handle a second auction of personal property if the person evicted from the house does not claim the items. This person also is a little out there and may not claim the property. Hmmmm, I wonder if there are any boxes of coins in the items placed in storage.
Knowledge is the enemy of fear
Update time.
Things remain at a standstill in the pending legal dispute. The opposing party has finally taken notice of things and has convinced a lawyer to help him out. The lawyer and I have been discussing all of the multiple facets of the dispute and have been talking about ways to resolve things. We have even discussed having a mediator preside over a mediation. The dispute has arisen from a business arrangement over multiple pieces of real property. My client purchased two parcels of property from the opposing party, took substantial upfront money from my client on both properties, took back seller carryback financing on one of the properties and has been accepting and cashing monthly payments made by my client on the seller carryback loan.
The opposing attorney has asked for my client's settlement position and I have given it to him. He has reviewed same with his client and he tells me that his client denies ever entering into any of the agreements with my client, denies signing deeds conveying the properties to my client and claims he still owns the properties. His lawyer says he has no client control and that his client is being unrealistic.
I expect things will come to the point this month whereby the dispute is either settled (with the opposing party getting his personal belongings back) or litigation commences and an auction of the personal property takes place.
If it's auctioned off, is it sight unseen, or a rational lot by lot auction?
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Update time. Later today I am meeting with my client's opponent and his lawyer to discuss the entire dispute and to attempt to agree upon a settlement. It is time for my client's opponent to "fish or cut bait". If he refuses to settle, things will heat up with additional litigation and with my client giving me a greene light to proceed with an auction of the personal property. My client's moving and storage costs for the personal property to date is between $7,000.00 and $8,000.00. The amount of stuff moved from the real property and put into storage is quite large and my client has paid for 6 months worth of storage todate.
My prediction is that my client's opponent will not be willing to settle for anything that would come close to compensating my client for the damages he has suffered as a result of the irresponsible conduct of his opponent.
Just got back from a meeting with the opposing side. From the comments of and the demeanor of my client's opponent, it looks like there will be no settlement, though opposing counsel said he would call me by this coming Monday with his client's settlement position.
Prediction - "litigation and auction coming soon to a courthouse and storage facility near you".
My client's opponent, through his attorney, made a settlement proposal earlier this week. My client had me make a counter proposal today. I delivered it to opposing counsel this afternoon. He thinks my client's counterproposal is something his client should agree to. He will discuss it with his client and let me know on Monday morning if his client accepts it. If so, the dispute will be over. If not, my client will continue to proceed with legal remedies, including an auction of the personal property in storage.
If the dispute is settled, I will post again and set forth the terms of same, including the disposition of the personal property (including the coin collection).
That sounded like Lawyer double speak !
The party of the first part tendered an offer of settlement to the party of the second part contingent on an amicable agreement between the 2 parties.
The boxes of coins I have looked at may be only a portion of the coins that are in storage. The stuff I looked through gave hints that there is additional coins and currency that may be located in the storage units. If there is additional stuff and if the personal property is sold to my client at auction, he and I will go through the contents with a fine tooth comb before dumping the things of no value to see if additional coins and other things of value are present.
``https://ebay.us/m/KxolR5
The legal dispute I am handling for a client has over 5 different and separate parts to it, of which the personal property and coin collection is only 1. Recently settlement proposals have been exchanged and my client's final "take it or leave it" offer to the other side has, according to the opposing attorney been accepted and the settlement paperwork I prepared has been signed by his client. I just need to pick up the settlement papers and have my client sign them.
The outcome of this settlement is that the bad guy gets his personal property back, two litigation cases are dropped and my client obtains a release of a $125,000.00 seller carry back mortgage he gave to the bad guy on the real property he bought in return for a steeply discounted payment by my client. The discount compensates my client for all of his hard dollar out of pocket costs he has incurred in this mess and about half of his soft dollar costs. Further he can resell the property with fear of the bad guy filing suit against the property to tie it up in litigation.
All in all a good result for my client.
<< <i> Further he can resell the property with fear of the bad guy filing suit against the property to tie it up in litigation.
All in all a good result for my client. >>
I sincerely hope that you meant to say "without fear".
So what happens to the coins?
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The coins and all other personal property go back to the bad guy. What he does with them, I have no clue.
I would love to someday look through a large mystery
collection of coins. All in all, a job well done with no loose
ends. Everyone gets more or less what the want and the
lawyers get paid for their services. Aint America grand.
Camelot
The settlement has been entered into, much to my client's relief. Glad the case settled for if it had not, multiple litigations would have heated up to the benefit of no one other than the lawyers (including me, but I already have lots of other work on my plate).
The bad guy has his personal property back, including the coins. The stuff is still at the storage facility, but my client's account is closed and the bad guy will take over the account and have to either move his things out of storage or pay monthly charges. If he does not make the monthly storage payments, then the storage facility may auction the stuff anyway. Wouldn't that be a sad ending to this whole mess.
As a postscript, I will report that my client's opponent in this mess, chose to file a new lawsuit against my client, even though a written settlement agreement and mutual release of claims had been entered into last year.
My client found out about the lawsuit somehow. I looked at the court file and found that the guy filed it but never served it. I told my client that if the lawsuit is not served it will eventually be dismissed by the court. Do not know what happened with the lawsuit as of today. Hopefully it was dismissed. I also do not know what the guy did with the personal property, including coin collection. If he did not pay the storage fees for the stuff or move the stuff out of storage, maybe the storage facility auctioned the stuff.
I knew it would happen.
He did/does own the contents of the metal storage container.
I never heard anything from the guy my client had a dispute with, other than finding out that he filed a separate lawsuit against my client [even though he settled all claims and gave a release]. However he never served the lawsuit and I assume it was dismissed long ago for failure to prosecute.
I also have not idea if the guy ever paid the storage unit rental fees after he took over the storage unit account as part of the settlement. If not, the storage unit operator probably did an auction sale of the contents of the storage unit, including the coin collection.