[RPPTL LandTen] Abandoned Property - Commercial lease

[Dariel Abrahamy]

Typical abandoned property scenario. I represent a commercial landlord. Tenant vacated and left a bunch of furniture and equipment. The lease contains a clause that any property left is deemed abandoned.  I am not concerned with the tenant's claims, but there are multiple UCCs filed (which all pre-date the lease) on the furniture and equipment.

I plan on doing the notice of abandoned property sale per 715.104 and 715.109.  If nobody bids, then what happens to the property? Does my client bid $1 and own the property subject to the UCCs? If a third party bids, I assume it's subject to the UCCs. Why would a third party bid then?

Is there any other way to get rid of this stuff without exposure to liability?



[gm-horizontal-two-color.jpg]
Dariel J. Abrahamy, Esq.
Shareholder
100 W. Cypress Creek Road, Suite 700
Fort Lauderdale, FL 33309
P: 954-491-1120; F: 954-343-6972
Dariel.Abrahamy at gmlaw.com




The information contained in this transmission may be attorney/client privileged and confidential. It is intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have
received this communication in error, please notify us immediately by reply e-mail.

Pursuant to Internal Revenue Service guidance, be advised that any federal tax advice contained in this written or electronic communication, including any attachments or enclosures, is not intended or written to be used and it
cannot be used by any person or entity for the purpose of (i) avoiding any tax penalties that may be imposed by the Internal Revenue Service or any other U.S. Federal taxing authority or agency or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

A portion of our practice involves the collection of debt and any information you provide will be used for that purpose if we are attempting to collect a debt from you.

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/landten/attachments/20140527/5780373e/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 2866 bytes
Desc: image003.jpg
URL: <http://mailman.fsr.com/pipermail/landten/attachments/20140527/5780373e/image003.jpg>