Quote:
Originally Posted by Peter_Spaeth
Subject again to the caveat that this is not my area, the safe deposit box and storage locker seem like bailments where one tenders possession of goods to someone else for a specific purpose, and need not file a UCC to protect oneself against the bailee's creditors.
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That was what I always thought and seemed to remember. Was CFO/Controller of a commercial real estate development company for about 15-16 years, and read and saw more leases and talked with more attorneys than you can imagine. Never heard of anything like this possibility in regards to leases and rental rights and so on.
To assure the correct treatment and classification as bailments, I think you would definitely want to at a minimum have a properly signed and current lease/rental agreement, and to make sure to keep up on the payments and not ever let it get in arrears.