Storage Auctions

Resources => Laws about Storage Auctions => Topic started by: Travis on March 06, 2011, 10:11:28 AM

Title: Bill Introduced to Amend Texas Property Code Chapter 59.
Post by: Travis on March 06, 2011, 10:11:28 AM: SB 690 was recently introduced to the Texas Legislature to amend the Texas Property Code, Chapter 59, which deals with storage lien sale notification requirements for storage facilities in our state.

One of the main changes being proposed involves the option for storage facilities to publish legal notices on free websites for the storage industry. Currently, storage facilities in Texas must run their legal notices for two consecutive weeks in a newspaper of general circulation, which can be quite expensive.

This prospective change may cause some confusion. Once storage facilities realize that they can save hundreds, if not thousands per year on their advertising expenses, they will abandon ship, and begin posting public notices for storage auctions on their own websites. Public notices in newspapers will be obsolete.

So how does this affect you, the storage auction buyer?

If every storage facility in your area listed public notices in different online source, this would make an already imperfect system all the more confusing. Can you imagine having to visit hundreds of websites to find auction information in your area?

I hope you found this article to be informative and have a blessed day.

Travis Lane
Title: Re: Bill Introduced to Amend Texas Property Code Chapter 59.
Post by: Travis on April 30, 2011, 10:58:58 PM: Update: The section of the bill which would have allowed storage facilities to advertise their public notices on a publicly available website was removed due to protests by Texas newspapers.
Title: Re: Bill Introduced to Amend Texas Property Code Chapter 59.
Post by: MovieMan on May 01, 2011, 12:08:28 AM: Quote from: tclane on April 30, 2011, 10:58:58 PM
Update: The section of the bill which would have allowed storage facilities to advertise their public notices on a publicly available website was removed due to protests by Texas newspapers.

So much for that revenue stream. Too bad, it would have been a good one.

(http://webs.lanset.com/rjsmovie/images/fatface.jpg)

Sorry Travis baby...the newspapers pay better than you do !
Title: Re: Bill Introduced to Amend Texas Property Code Chapter 59.
Post by: jrossjr79 on May 01, 2011, 12:27:50 AM: Oh well, looks like I will still be paying for a subscription then. :(
Title: Re: Bill Introduced to Amend Texas Property Code Chapter 59.
Post by: Travis on May 01, 2011, 10:44:49 AM: Movieman, pinks not your color.

Yeah, it would have been nice to be able to make money on the legal notices as well but the newspapers just have too much influence. You know the old saying...if you can't beat them, you might as well join them. We are currently looking into the legal aspects and the start up costs of becoming a newspaper of general circulation. The loop hole to this is that it doesn't matter how many subscribers you have, you just have to have a publication that has a diverse readership.