Legal Question in Real Estate Law in Indiana
Warehouse or Storage Facility
We have a case pending in our area regarding the fundamental issue of whether or not there is a difference between the definition of a "warehouse" and a "storage facility".
It seems as though, that in Indiana (perhaps in other states?) a warehouse has "Limited Liability" with regards to a loss due to fire or other forms of disaster. However, I do not believe that a personal storage facility would fall under the same form of "Limited Liability" that a warehouse does. Could someone please inform me of information they may have regarding this issue.
1 Answer from Attorneys
warehouse v. storage facility
Article VII of the Uniform Commercial Code permits a "warehouseman" to issue a warehouse receipt covering stored goods providingfor limited liability, and also codifies the common law duty of care. A storage facility rents space. I can't imagine it having a greater standardof care than a warehouseman.