NathanUnder The Law
So after taking some time to think, Joe asked one of his friends for some advice. Joe then got to know that once a storage unit is sold, the items inside do not belong to the delinquent tenant anymore. Joe was actually the rightful owner and he could keep anything he wanted. He had bought this legally. However, the lawyers were not easy to shoo away either.
How Bad Would It Get?
And so they changed their offer to somehow do Joe a service, upping their finders fee to $1,200,000. The lawyers wanted to play hardball. There was no telling what the original owners and his lawyers were capable of. How could anyone forget a whopping $7.5 million dollars in a storage rental of all places? He could not have been a good person, right?
Having To Return It
Was it fair for Joe to only receive 1.2 million? Now, though this was indeed a huge sum of money for anyone, it was a measly amount as compared to the total amount of money found. He was unhappy about having to choose. He did not like the fact that he was given an ultimatum. However, although Joe found this, he did not earn it. He was unsure about the situation.
Settling On A Deal
So after Joe had to deal with all the threats and confusion, Joe made a decision that he thought would be the fairest split. He wanted to get half the amount. Since the original owner did not answer the letters sent by the store owners, leaving the money there for so long, Joe felt like this was wrong. So when the auction had taken place, it was right of him to get the money.
No Loss?
The storage owner revealed, “I really don’t make much money out of auctions – it’s to try to cover our expense. 90 percent of the time I don’t cover my losses. One unit may have cost me $600 and the person bids at $400, so my revenue has still suffered a loss.” Adding, “An unpaid unit does not make any money. The sooner the delinquent tenant can be moved out, the sooner a paying tenant can move in.”