Custody

With the exception of pre-seizure related items, properties must go through Custody prior to property managemnet and dispositon activities. All properties must go through Custody prior to Colliers beginning any other work. This includes not only assets with structures, but vacant residential lots, vacant land, deeded parking space, etc. If Colliers is to manage or sell an asset on behalf of the USMS, the asset must have a formal custody action completed before Colliers can begin work with the asset.

It is important that we verify, confirm, and then enter the Custody Date into the Custody Date field in Track. The Custody Date is the point at which we physically take possession of the asset. This is done with the assistance and direction of the District Area Forfeiture Coordinator (DAFC)or a designated USMS Real Estate Specialist, and usually a local DUSM. The physical custody date must be the same as the custody date entered into TRACK.

Beginning on the day that custody has been taken, ORE has 21 days to stabilize the property.

All Custody orders must be accompanied with a corresponding legal order from the court which allows entry into the property. Depending on the type of order, certain actions are prescribed.