Trash Out Requirements
Copyright (c) 2011, Deanna and Jim's GOLD Team
REO Agents are frequently required to contract for removal of trash and debris from inside and outside vacant bank-owned properties they have been assigned.
Trash out contractors need to be specifically required not just to "make it all go away," but to "dispose of it all legally." Toxic wastes, paint, televisions, CRT monitors, batteries, cleaning supplies, and other items need to be disposed of in accordance with federal, state, and local statutes and regulations.
If there is any evidence that the property has been used for manufacturing methamphetamines access should be closed off and the local authorities contacted immediately. Explosive and toxic hazards are very high for such properties and require professional evaluation.
Even if it's not a meth lab, the contents of cabinets, cupboards, drawers and appliances also need to be disposed of. There is no trouble putting moldy food in the trash. Items including plastic bags of white powder or green buds, ammunition, firearms, explosives, or significant amounts of US currency may require contacting local law enforcement officials for legal disposition. Needless to say, the trashout contractor needs to know the difference between a flare and a stick of dynamite.
Items such as motor vehicles, trailers, boats, airplanes, ATVs, ATCs, lawn tractors, or motorcycles will usually require getting specific guidance from your asset manager. Under no circumstances can an agent or their contractor simply take such personal property without their asset manager's written permission.
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