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Texas House Considering Changes to Notice and Sale of Abandoned Vehicles
Friday, May 8, 2015 6:55 AM

HB 3131, which would change the law applicable to vehicle storage facilities and would affect notifications to lienholders of abandoned vehicles, has passed the House Licensing and Administrative Procedures Committee. The bill amends the process of providing notice to lienholders and could eliminate the second notice in some circumstances.

The bill also allows the storage facility to keep funds from a public sale to cover their costs, but does not clearly define the costs that can be included, thereby decreasing funds remitted back to the lienholder. In addition, it permits the storage facility to keep excess funds from a sale if the lienholder does not collect them within 90 days.

The Texas Credit Union Association is concerned that the law is not clear concerning what constitutes a public sale in these situations, meaning the process used by storage facilities may not be obtaining the maximum sales price. The bill would also allow storage facilities to sell vehicles currently on their lot until September 2015 to fix what they see is a glitch in the processing of paper work through the DMV.

Please contact Jeff Huffman, Texas Credit Union Association, at jhuffman@txcua.coop or 469-385-6488 for additional information.