[Exhibitman]

Bob, it is called a "bailment": an act of delivering goods to a person for a particular purpose, without transfer of ownership to that person. The difference between a bailment and an apartment lease is that the lease gives the renter rights to the space. It is the literal opposite of a bailment: the space is delivered to the tenant. Anything in the space is presumed to be the tenant's property. A safe deposit box is the same idea: the bank gives you the space and whatever is in there is presumed yours. In the case of a bailment, unless there is a public record of the item, it is presumed to belong to the debtor and as such it goes into the general asset pot.

The vault agreements are meaningless in bankruptcy; the bankruptcy law breaks all private agreements...except perfected security interests.

The system for notifying the world that someone is holding your possessions (perfecting the interest) is the UCC filing system. It takes a minute and costs like five bucks. No reason not to do it when you are handing some ass-clown a five or six figure item.