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2000 SESSION
SB 366 Self-service storage facilities; liens.
Introduced by: Charles R. Hawkins | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Self-service storage facilities; liens. Requires the self-service storage facility owner to notify the lienholder of record on personal property having a fair market value in excess of $1,000 (current law is $600) of a proposed public auction of the property due to default. The owner is not obligated to hold any balance for a properly notified lienholder or other lien creditor if not claimed within 30 days. The bill also provides that the owner's legal remedies are not limited to those spelled out in the Virginia Self-Service Storage Act.
SUMMARY AS PASSED SENATE:
Self-service storage facilities; liens. Requires the self-service storage facility owner to notify the lienholder of record on personal property having a fair market value in excess of $1,000 (current law is $600) of a proposed public auction of the property due to default. The owner is not obligated to hold any balance for a properly notified lienholder or other lien creditor if not claimed within thirty days. The bill also provides that the owner's legal remedies are not limited to those spelled out in the Virginia Self-Service Storage Act.
SUMMARY AS INTRODUCED:
Self-service storage facilities; liens. Requires the occupant, rather than the self-service storage facility owner as in current law, to notify the lienholder of record on personal property having a fair market value in excess of $1,000 (current law is $600) of a proposed public auction of the property due to default. The bill increases, from $250 to $1,000, the amount that a self-service storage facility owner's lien on personal property stored in a leased space is superior to other liens or security interests encumbering the property. The measure increases the amount of an owner's lien on a stored motor vehicle or watercraft from $250 to $1,000. The bill also provides that the owner's legal remedies are not limited to those spelled out in the Virginia Self-Service Storage Act.