# Hold period

A term used when buying pawn shop.

The days goods must stay in the local police jurisdiction, unaltered and open to inspection, before a sale.

Two things the trade gets wrong about this. In Florida it is state law and not a local rule: the statute requires goods taken in a pawn or purchase transaction to be securely stored and kept unaltered within the jurisdiction of the law enforcement official for thirty calendar days. A county or municipality may enact ordinances that comply with the statute but are not more restrictive than it, and any conflicting ordinance is void. So in Florida no city or county can lengthen it, and the variation to model is between states. And it is a custody and inspection duty before it is shelf timing. The goods may not leave the jurisdiction, which constrains any plan to consolidate intake across several shops. Both the goods and the records relating to them must be available to the official during normal business hours throughout. The prohibition on selling runs on purchased goods; pledged goods are locked by a separate rule.

Part of: Buying a Pawn Shop (https://searchspheresource.com/guides/buying-a-pawn-shop)

Source: https://searchspheresource.com/guides/buying-a-pawn-shop/terms/hold-period
Not dated: The same editorial definitions as the glossary, inside a trade.

Site index for machines: https://searchspheresource.com/llms.txt