Legal Question in Credit and Debt Law in Missouri
What is my claim on abandoned property in my storage facility?
I have numerous pianos in my companies storage facility. The owners placed them in storage and then disappeared. Some have thousands of dollars due in outstanding storage fees. I cannot locate the owners to collect payment or make arrangements to return the instruments. What are my legal rights? Do these items ever become my property? Can I sell them to recoup my money? They are just taking up space in my climate controlled warehouse. Some have been abandoned for over 7 years. Does the law provide for this situation? Should I contact an attorney?
2 Answers from Attorneys
Re: What is my claim on abandoned property in my storage facility?
Yes, I would advise you to consult with an attorney. I would have to do a little legal research myself to provide you with any specific legal advice, but I'm almost certain that there is an abandoned property statute in Missouri which covers your situation. I believe that it may be possible for you to recover at least some of your charges legally. If you are in the eastern part of the state and would like a free telephone consultation, you may call me at 314-727-2822.
Re: What is my claim on abandoned property in my storage facility?
At least some of the answer here depends in large measure (no musical pun intended) on what the langauge of your storage contract says. If the contract gives you the right to liquidate the equipment at the end of a specified period, then you may have contract rights to dispose of the equipment. Most of the little "U-Stor-It" places have these clauses and they act on them with regularity. If you do not have those provisions in your storage contract, then you are most likely going to have to give notice by publication in the newspaper under the unclaimed or abandoned property statute. See http://www.moga.mo.gov/statutes/C400-499/4470000080.HTM for more information.
The safest approach is to get a legal opinion from an attorney about the proper way to dispose of this property.