Property can be seized by a financial judgement even if it is jointly owned. There are however ways to get around this. There are waiver and judgements that can be put into place to protect a spouse or business partner from incurring loss from a lien or judgement. The laws differ in each state so it is always best to consult an attorney on these matters.
The creditor(s)can file a lawsuit against the debtor and if they win a judgment they can execute it against any nonexempt property owned by the debtor. The preferred method is wage garnishment, followed by bank account levy (even joint accounts can be garnished). Other options to the creditor are the seizure and sale of property that is not considered exempt under state law, including jointly owned property and liens against real property (also if jointly owned)such as a home, vehicle, boat, etc. In the majority of states a forced sale of any real property is possible, including a home if it is not covered by the allowed homestead exemption. Creditor judgments are valid for 10 to 20 years and are usually renewable. A judgment creditor can hold the execution of the judgment until the debtor obtains property that can be seized or can execute the judgment within ten days after it has been awarded.
You are absolutely kerrect. They cant get blood out of a tur-nip or a cat-nip... * Wage garnishment is not the only option that a creditor has to enforce a judgment. In the majority of states judgments can be executed against bank accounts, all non exempt property belonging to the debtor (in most cases,even that which is jointly held) and liens against real property. Property that is not protected by the state's exemption laws can be seized and sold by the judgment creditor to repay the debt owed. Social Security and pension benefits are not subject to creditor attachment, but the majority of states do allow unemployment benefits to be garnished.
They can levy them once they have a judgement.
Texas does not allow wage garnishment or the forced sale of a primary residence when it pertains to creditor judgments. The creditor can place a lien against real property or sometimes vehicles, that belong to the debtor, levy on bank accounts (even those jointly owned) or petition to have non-exempt assets seized and liquidated for the repayment of monies owed.
Texas law only allows wage garnishment when the judgment creditor does not have other means for collecting the debt owed. If the debtor has a bank account or non exempt property that can be levied, seized or a lien placed by a judgment, wage garnishment is not allowed.
A sheriff's sale is a sale which is held when property is seized as the result of a judgment against someone. The property is held by the sheriff and can be sold after notice is given to the public.
Guns are property just like any other and there is no particular reason why they would be immune from seizure.
yes of course
You property can only be seized under due process of the law, which means that an order of garnishment would have to be issued by the Court. If there is an order of garnishment, then your tax return will be seized.
Yes, if the vehicle is not protected by the state's exemption amount. If the judgment is not by the lender who holds the lien on said vehicle it is unlikely that the judgment debtor would engage in such action especially if there are other means of enforcing the judgment writ, such as garnishment of wages or levy of a bank account. I don't understand what is the exemption amount?
The creditor(s)can file a lawsuit against the debtor and if they win a judgment they can execute it against any nonexempt property owned by the debtor. The preferred method is wage garnishment, followed by bank account levy (even joint accounts can be garnished). Other options to the creditor are the seizure and sale of property that is not considered exempt under state law, including jointly owned property and liens against real property (also if jointly owned)such as a home, vehicle, boat, etc. In the majority of states a forced sale of any real property is possible, including a home if it is not covered by the allowed homestead exemption. Creditor judgments are valid for 10 to 20 years and are usually renewable. A judgment creditor can hold the execution of the judgment until the debtor obtains property that can be seized or can execute the judgment within ten days after it has been awarded.
Texas does not allow wage garnishment for creditor debt unless the judgment holder has not other means of collecting monies owed. If the judgment debtor owns real property or has a bank account that is subject to levy or holds other funds, investments, etc. that can be seized and liquidated wage garnishment is not allowed. Please be advised, when wages are deposited in a bank account they are no longer considered exempt from creditor judgment, even if the account is jointly held.
Real or personal property that can be seized by a judgment creditor for repayment of the debt. In most US states garnishment is usually the first choice of executing a judgment, followed by bank levy or the seizure and sale of non exempt property (stocks, bonds, etc.) or a lien against real property.
No personal property of an indivual officer of a corporation may be seized to pay a corporate debt. This is so even if that individual is the person responsible for the claim against the corporation. As long as the judgment is against the corporation, only corporate assests may be seized. Sometimes plaintiffs in actions against corporations try to get judgments against the individual officers or shareholders as well as the corporation itself by means of a legal theory called "piercing the corporate veil". This is usually not successful. But even if the plaintiff were successful and got a judgment against the corporation and the individual, the individual's property would not be subject to seizure because of the judgment against the corporation. His/her property would be subject to seizure because there would be a judgment against him/her personally. This is the whole purpose of the corporate structure to begin with, that is, the ability to run a business without fear of personal liablity.
Judgments can be executed in serveral ways, the preferred method is monetary in the form of wage garnishment or bank levy. Personal property of the judgment debtor can be seized and sold or real property can be encumbered by a lien. States have laws which differ in the type and amount of property that can be exempted from judgment enforcement. Generally small claims judgmenta are monetary recovery only, such as wage garnishment.
There are several types of property that cannot be seized in a property seizure. This type of property includes clothing, bedding, food, medicine and kitchen items.
The question doesn't include enough information. "Seized" by who (what agency) for what reason (evidence - forfeiture - safekeeping - etc) ? If it was seized as contraband and seized for forfeiture it will become the property of whatever agency that seized it. If it was seized as evidence of a crime, it will be returned to the victim/complainant after the trial is over.