Asset FAQ'S

Abandoned property laws generally apply when personal property is left behind after:

• A completed eviction, or
• Abandonment has been established through the required notice process

Once abandonment is legally established, property cannot simply be discarded or claimed. Required statutory steps must be followed before disposition.

In most cases, NO!

Disposal is typically permitted only after required notice and holding periods are satisfied. In some jurisdictions, disposal is allowed only if property value falls below statutory thresholds or if sale costs would exceed recovery.

Discarding property too early is a common source of disputes.

Yes. In many cases, value determines what happens next.

Value may affect:

• Whether property can be disposed of
• Whether a public sale is required
• How proceeds must be handled

Even when not mandated, valuation can help support good-faith decision-making and reduce risk.

Not always - but often.

An appraisal may be required by statute, contract, or best practice when:

• Disposition pathways depend on value
• Assets are specialized or difficult to price
• Decisions may later be questioned

Professional valuation is commonly used to document rationale and reduce disputes.

Often, NO!

While lease provisions are important, they do not always override statutory abandoned property requirements. In some jurisdictions, statutory notice, holding, and sale obligations apply regardless of lease language.

This issue is addressed in more detail in Can I Rely On My Lease?

Former occupants generally retain reclaim rights during the statutory holding period, provided they comply with applicable requirements (such as payment of allowable costs).

Reclaim requests must be handled carefully and documented.

When a sale is conducted:

• Allowable costs may be deducted
• Proceeds may need to be held for a defined period
• Records of sale and accounting should be retained

Specific requirements vary by jurisdiction.

Some items require special handling, such as:

• Personal or confidential records
• Regulated or hazardous materials
• Items subject to specific disposal requirements

These items should be identified early and handled separately to ensure compliance.

Timelines vary by jurisdiction and depend on:

• Notice requirements
• Holding periods
• Valuation and disposition pathways

The process typically begins immediately after eviction or abandonment is established and concludes once lawful disposition and cleanup are complete.

Professional assistance is often helpful:

• Early in the process
• Before property is moved, sold, or discarded
• When value, notice, or authority may be questioned
• When documentation matters

Early involvement can prevent delays and reduce risk.

If your situation doesn’t fit neatly into these answers, we’re happy to talk.