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  • 1.  How involved should a facility be in a repossession?

    Posted 10-19-2023 01:32 PM

    We have had a bank contact us about a repossession of an RV.

    We did not give info, but did let the owner know we were contacted.

    He brought his keys to our office and said to let the bank have it...

    What should we do or don't do? Is there legal paperwork for us to get the owner to sign? 

    Should we be making arrangements for bank to get it? Should we be involved at all? 

    Keri 

    Hunter Valley Storage



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    Bertram Jentsch
    Hunter Valley Storage
    New Braunfels TX
    (830) 627-4566
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  • 2.  RE: How involved should a facility be in a repossession?

    Posted 10-20-2023 02:50 PM

    Hello Keri,

    My thoughts are that you should stay out of it. That is a personal/financial matter between them two, you will get involved when and if the tenant can not/does not pay his rent, and then its just as usual trying to collect the rent.. If you have a locked property it would be the tenant to personally bring him onto the property anyways to get the RV, the tenant can give them the keys then himself...Again just my own personal opinion. Good luck and let us know how it is all played out. It will be interesting to learn how it plays out..

    Best Wishes Keri

    Tammy Olivas



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    Andrea Kelly
    Owner
    McQueeney Mini Storage
    Mc Queeney TX
    (830) 557-6663
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  • 3.  RE: How involved should a facility be in a repossession?

    Posted 10-22-2023 10:17 PM

    as the storage facility you the facility has the first lien.

    If the account is delinquent, the lender must pay the account current including all fees.

    Then the bank can have it.

    But if they are not past due, stay out of it.  Let the tenant give the bank the keys him/her self.



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    David Fisher
    Managing Director
    Fisher Global Development, LLC D/B/A Imperial Storage Solutions
    Sugar Land TX
    (281) 391-2510
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  • 4.  RE: How involved should a facility be in a repossession?

    Posted 10-24-2023 10:02 AM

    I do agree with staying out of it! 

    Thanks! 

    Keri