Walk It Through: The Storage Auction
A storage unit in default, from the first notice to the auction.
A renter falls behind on a self-storage unit after moving for work.
Two things a person in this spot might do. Picking one shows what the law says about it.
One storage unit and one renter. Vehicles and boats in storage, other lienholders' notices and an unsigned rental agreement are not worked through here.
A practice walkthrough, not a prediction of how any real one will go. Legal information, not legal advice.
Words this turns on
Terms with a legal meaning that is narrower than the everyday one. Each links to the definition and the authority behind it.
- RedeemTo get collateral back by tendering fulfillment of all obligations it secures, plus the reasonable expenses and attorney's fees the Code describes. A debtor, a secondary obligor, or another secured party or lienholder may do it.
- Self-service storage lienThe lien the owner of a self-service storage facility has on all personal property stored in each leased space for rent, labor and other charges, which the rental agreement states in bold type.