Legal Question in Real Estate Law in California

CA Storage Unit Que Please:

* I have a family friend who owes me money.

* He doesn't have the money to pay me but, he said he has a storage unit with many valuables in it and he will "give it" to me to repay the loan.

* Problem: he states that he's behind on the monthly rental fees (it figures right?)

* He's received some legal notices stating that he's behind on payments but, it hasn't been legally confiscated yet and has not gone to auction.

* He states that there are plenty of items in his unit (tools, furniture, antiques, collectibles etc) for me to sell and pay his late fees and give me plenty of money to get my loan amount back plus some extra.

Question Please:

* I don't have any more trust in this person and I would like to take him up on his offer and get his storage unit and see if I can sell the items to get my cash back.

* What step-by-step process should I use here?

* I believe I need to "beat" a deadline to get this done right?

* What forms should I use to do this? Power of Attorney? Bill of Sale? Assignment Form?

* I have enough money to pay whatever he owes but, how do I accomplish this since the rental unit is in his name. Plus I want and need everything to be legal and legitimate so I have the legal right to pay the fees owed and then legally get into his unit and get the stuff in his rental unit. I don't want to be accused of stealing by him at a later date.

* This sounds a little tricky so any suggestions or feedback you could give would be really helpful!

Please point me in the right direction!

Thanks

Generous "Banker"


Asked on 9/14/11, 7:47 am

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Here's one possibility:

Get it all in writing first, the whole procedure. Then, on a day when each of you has sufficient time, drive to the storage place in your vehicle. You pay the storage fees and keep the receipt, but you appear together in front of the resident manager who accepts the fees. Explain that you have bought the contents and that the renter/former owner is with you to assist in carrying out the delivery. Then the two of you go to the locker and unload it into your car, working together, and making at least a rough inventory including an agreed guesstimate of value by item.

You don't need to completely unload the locker; just get enough to cover the new indebtedness total, including the rent, with a comfortable safety margin. When you're done, have him initial the inventory, then take him home or back to his car.

Sell the stuff in a commercially-reasonable manner, and keep records. When you're paid off, including your costs and expenses, send him a final accountung and return anything you didn't have to sell.

An alternative is to tell him, "Sorry, the loan was cash and repayment has to be cash."

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Answered on 9/14/11, 8:46 am


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