California Civil Code - Section 1980-1991: Chapter 5. Disposition Of Personal Property Remaining On Premises At Termination Of TenancyAbandoned Personal Property Auctions conducted under the code for banks and lenders after foreclosure are the fastest growing segment of The Auctionarium's business. In performing hundreds of these auctions we have discovered that asset managers for most major lenders are located in other states and are not aware of the California law requiring personal property valued at $700 or more left behind after the termination of ANY tenancy must be sold at public auction. There is presently no process in place by any major lender or government agency that we are aware of to value abandoned personal property located in each foreclosed home after taking possession. Banks are placed at risk of lawsuit every day by realtors & asset managers who dump, donate or take personal property left behind in foreclosed homes without an appraisal on file.The Auctionarium provides your legal solution to compliance with California law & statute.Additional personal property appraisal services from 'Road Show whats it worth?' Estate, probate, trusts, divorce, bankruptcy, business dissolution's and more.
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