Quote:
Originally Posted by Exhibitman
Banks are subject to separate and very specific regulations under Federal and state laws, so it is not analogous and does not carry the same risks. You are also granted specific possessory rights in the box itself; you aren't handing the contents to the bank and letting it do whatever with it. A separate warrant or court order is needed to enter the box. Leases are technically conveyances of an estate in land; the land becomes yours insofar as the authorities are concerned, which is why the cops need a separate warrant to enter each apartment. Storage lockers are much the same as leases; you are granted exclusive right to occupy the space, which is why the entry into and disposition of contents is highly controlled (see Storage Wars) and again, separate warrants needed.
AHs are just another business. Unlike the storage locker you are not granted an exclusive right to enter and use the space. You just hand over your stuff.
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I figured the banks had separate rules so that seizure of assets didn't apply to safe deposit box contents, and pretty much knew the rental/leasing of storage units/apartments and such were also subject to do different rules and protections from the seizure of contents as well. But what if as I suggested, PWCC or Goldin set up an entirely new legal entity and business, separate from their auction/sales businesses, in a separate physical location from their AH/sales businesses, and actually kept people's storage "vault" items there in say separate spaces like they do with post offices boxes where you rent the mail box space and they separate your mail from everyone else's and keep it in your designated, separate mail box or space until you come and pick it up. I am fairly certain your mail is protected from such seizure if it is at the U.S. Post Office. What I'm referring to is for things kept and held in mail boxes run by private companies that offer a similar P.O. Box type service to individuals, under a specific, written rental or service agreement. Would that type of operation keep a person's assets safe from seizure were the private mail box company to go bankrupt? And if so, wouldn't such protection from seizure in that case also carry over to assets held in a "vault" operation, as I described above with a written and signed rental/service agreement, if kept completely separate from a related AH/sales business?