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Can a civil judgment result in the repossession of a car that is co owned?
Wiki User
∙ 12y ago
If the civil judgment is due to not making payments for an auto loan on the car that is in question, then yes, that car may be repossessed as a result of the judgment.
If there is a judgment against both owners of the car (i.e., if the co-owners are both listed as defendants), then the car is considered an asset and may be repossessed unless there is proof that the car is required for one or all of the co-owners to earn money in order to pay the judgment.
If there is a judgment against only one of the owners of the car (i.e., if one of the co-owners is listed as a defendant, but ANY of the others are not), then no, the vehicle may not be repossessed.
Wiki User
∙ 12y ago
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Can a lien be placed on a house for voluntary repossession the state of Texas?
There are no legal differences between the borrower voluntarily relinquishing a vehicle or the lender having to initiate repossession action (with perhaps the exception of additional monetary charges). If an outstanding balance remains on the original loan amount after the vehicle is sold at public auction the lender can file suit to gain a judgment against the borrower for the amount still owed. If a judgment is awarded the judgment creditor may execute it according to the laws of the state. This being the case it is possible for a judgment holder to place a lien against real property owned by the judgment debtor.
Can a creditor seize a vehicle that is owned free and clear for payment of a civil judgment?
Yes, if the debtor's state vehicle exemption does not protect the vehicle from seizure and sale.
What can a creditor do with a final judgment in Florida?
The judgment can be executed as a bank account levy or wage garnisment or liens against real property solely owned by the judgment debtor or to seize and liquidate any unexempt property that is owned by the judgment debtor.
Can a judgment creditor foreclose on property jointly owned if only one person was named on the judgment?
No
What if the property from where the vehicle was towed was a private residence that was owned by somebody else and not the signer of the loan or lease?
If the repossession agent can get to the vehicle without breaking anything or causing a civil disturbance, he can take it. Private, public, or government property, or who signed the loan is irrelevent.
Can a judgment creditor seize legally owned firearms?
most likely, property is property
When a judgment is executed is it an 'automatic' lien on the debtor's property?
A judgment in most cases (except for small claims) can be executed as a lien against real property. It is not "automatic" the judgment creditor must file the judgment as a lien against property solely owned by the debtor or if the portion that is owned by the debtor when the property is jointly held. Judgment creditor liens cannot be placed against marital property held as Tenancy By The Entirety where only one spouse is the debtor.
How can a civil judgment be enforced in South Carolina?
Methods for collecting a judgment are the levy of bank accounts, seizure and sale of non exempt property belonging to the judgment debtor, or a lien against real property belonging to the debtor, in some cases including the debtor's share of property that is jointly owned. If none of the above methods are viable in enforcement of the judgment the judgment creditor can obtain a wage garnishment. Also, in rare cases the judgment creditor can request the court to order a forced sale of real property to satisfy the debt owed. Actually, in SC the only debt that they can garnish wages for is child support.
Can a credit card company put lien on your property in California?
Yes, if the lender sues the debtor and receives a judgment award, the judgment can be executed against personal or real property owned by the judgment debtor.
What is a filed judgment?
It indicates the creditor plaintiff has won a lawsuit against the debtor defendent and a judgment has been entered in favor of the creditor. The creditor can enforce the judgment in accordance with the laws of the debtor's state of residency. The preferred method of executing a creditor judgment is wage garnishment, followed by bank account levy, a lien against real property owned by the debtor or the seizure and sale of nonexempt property owned by the debtor.
What happens when a judgment is executed?
In the majority of US states a judgment holder can execute a judgment in several ways. The preferred method is wage garnishment, other options for the judgment creditor would be; bank account levy or seizure and sale of unexempt personal property or a lien against real property owned by the judgment debtor.
Can a leasing company consider it a repossession if you turn a leased car in early?
Yes when a leasing company regains control of an asset it is still considered a Repossession repossession is much easier in a lease agreement than it is in a finance agreement due to the fact that the asset is owned by the leasing company, in a finance agreement you control ownership and the bank only holds security in the asset.
