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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal>Daniel – Our experience with this is that the language in the lease deeming property abandoned avoids the requirement for a sale under the statutes (I understand there is case law on this from our outside counsel which acts as a waiver of a sale). When a premises is abandoned, we conduct a UCC search and send out correspondence to the secured parties indicating the Tenant’s abandonment giving them an opportunity to get the equipment prior to disposal or sale. In certain instances with restaurant equipment that is of value to subsequent tenants, we grant the subsequent tenant the right to use the equipment with an indemnity back to Landlord if there is any future claim. I haven’t experienced any issues or exposure doing this over the last 10 years.<o:p></o:p></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Adam J Reiss<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Ross Realty Investments<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Ross Matz Investments<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'>3325 S University Drive Suite 210<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Davie Fl 33328<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'>954.452.5000 | x218<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'>954.452.4700 fax<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'><a href="www.ross-realty.com"><span style='color:blue'>www.ross-realty.com</span></a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p></div><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] <b>On Behalf Of </b>Dariel Abrahamy<br><b>Sent:</b> Tuesday, May 27, 2014 10:50 AM<br><b>To:</b> landten@lists.flabarrpptl.org<br><b>Subject:</b> [RPPTL LandTen] Abandoned Property - Commercial lease<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>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. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>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? <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Is there any other way to get rid of this stuff without exposure to liability? <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><img border=0 width=254 height=33 id="Picture_x0020_1" src="cid:image001.jpg@01CF7A59.C2453FF0" alt=gm-horizontal-two-color.jpg><o:p></o:p></p><p class=MsoNormal>Dariel J. Abrahamy, Esq. <o:p></o:p></p><p class=MsoNormal>Shareholder<o:p></o:p></p><p class=MsoNormal>100 W. Cypress Creek Road, Suite 700<o:p></o:p></p><p class=MsoNormal>Fort Lauderdale, FL 33309<o:p></o:p></p><p class=MsoNormal>P: 954-491-1120; F: 954-343-6972<o:p></o:p></p><p class=MsoNormal><a href="mailto:Dariel.Abrahamy@gmlaw.com">Dariel.Abrahamy@gmlaw.com</a><o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><pre>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<o:p></o:p></pre><pre>received this communication in error, please notify us immediately by reply e-mail.<o:p></o:p></pre><pre><o:p> </o:p></pre><pre>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<o:p></o:p></pre><pre>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.<o:p></o:p></pre><pre><o:p> </o:p></pre><pre>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.<o:p></o:p></pre><pre><o:p> </o:p></pre></div></body></html>