Hello ACTIVE RAIN! I am hoping you can help answer an office question.
Our office is doing more and more BANK OWNED property listing as sales. In fact, most of our real estate business here in Central Oregon is coming from BANK OWNED propeties.
We work with a number of default companies from various states around the country. We are in Oregon. I know California has specific regulations....but I know nothing about any Oregon law. How does this work in your state? Do you know of any forms that are required for this?
My question is "what is our responsibility with personal property left behind in a home where the owners have been foreclosed upon and left?" As you may know, it is not unusual for owners to remove built in items and to leave JUNK behind. So how do we deal with whatever is left behind? Some may call the personal property left behind....others may see it as treasure. Obviously if it is trash we do remove....but how about chairs and couches and televisions?
What do you do in your office? My feeling is that once it has been foreclosed upon that anything remaining becomes the property of the holder of the deed.....good or bad.
I am anxious to hear how you might handle this.