If I store my boat in someone else barn/garage and pay them if they lose there home to foreclosure or unpaid taxes, what happens to my boat?
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If I store my boat in someone else barn/garage and pay them if they lose there home to foreclosure or unpaid taxes, what happens to my boat?
Asked on November 23, 2011 under Bankruptcy Law, Ohio
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your boat is being stored at property that is subject to a foreclosure under some lease agreement and the property is then lost in foreclosure, you will need to go to the property where your boat is stored to retrieve it and take it to another place for storage.
When real property is foreclosed upon and lost, the personal items such as couches, chairs, cars or boats still belong to the owners and are not lost in a foreclosure of the real property.
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