Can I get my personal property back after the bank sold my commercial property?
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Can I get my personal property back after the bank sold my commercial property?
The bank foreclosed on my commercial property. I did not receive a notice of trustee sale. I checked the property several times a week for any signs or postings about a sale because I had a lot of property stored there. Then one day everything was gone. I called the bank, they say the sold the property. I had titled vehicles, trailers, and other belongings that are all gone. Is there anything I can do?
Asked on August 1, 2011 Utah
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You are entitled to the return of your personal property that was taken when your commercial property was foreclosed upon. Items of personal property placed within real property lost in a trustee's sale that are not security for the property's loan need to be returned to the rightful owner.
You need to contact the trustee who conducted the sale immediately to find out where your personal proeprty was taken and when. Call and follow up with an e mail or letter (keepng copies of such for future need).
Potentially if you let too much time pass before you discovered that your property was taken from the foreclosed real property, your vehicles and other items may have been auctioned off.
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