Full question:
I am looking for abandoned property laws for Louisiana. We are a self storage facility and we recently purchased a property and have some occupied units, but don't know who they belong to. Previous manager has no paperwork for these units and no one has paid since we have taken over the property August 1, 2007. I want to know what legal recourse we have to get rid of this or how long do we have to keep it if no one shows up before we can auction?
- Category: Abandoned Property
- Subcategory: Abandoned Property Self Storage
- Date:
- State: Louisiana
Answer:
In Louisiana, if you hold property that is presumed abandoned, you must report it to the state administrator. This report should include:
- The name and last known address of the apparent owner, if known.
- A description of the property and its value.
- The date the property became payable or demandable, and the last transaction date with the owner.
You must file this report annually by November first, covering the previous twelve months. Additionally, you must notify the apparent owner in writing between sixty and one hundred twenty days before filing the report, provided you have an accurate address.
If you are a successor holder or have changed names while holding the property, you must include this information in your report.
According to Louisiana law, a person who takes possession of abandoned property with the intent to own it can acquire ownership (La. Civ. Code Art. 3418). For self-storage facilities, if no one claims the property, you may have the right to auction it after following the proper procedures outlined in the law.
For more specific legal guidance, consider consulting a legal professional familiar with Louisiana property law.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.