Virginia Makes Statutory Changes to Statute
Governor Younkin recently signed a bill updating the Virginia Self Storage Statute. This change takes effect July 1, 2022, which eliminates the requirement to use newspaper advertising for lien sales. While the requirement to no longer advertise in a newspaper has gone away, it is certainly a personal decision and one that should be made with your legal counsel, as to whether you should do anything to continue to advertise your lien in places other than a newspaper. It is always in your best interest, and in this author’s opinion, to get as many bidders as possible to “look” at your sales, and raise as much awareness of your sales as possible. Again, this is a decision to be made between you and your legal counsel.
Many Congratulations to the Virginia Self Storage Association, the National Self Storage Association, and the operators in Virginia for this impressive and important change to their Statute.