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Can personal property be seized from the president of a corporation that has a judgment against it?
Wiki User
∙ 15y ago
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.
Wiki User
∙ 15y ago
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Is a judgment against the person or property?
A judgment can be against either the person or their property. A personal judgment is against the individual's assets or income, while a lien on property is against the person's property.
If personal property is not asked for but money is in a small claims action can that property be repossessed?
(Assuming you are the defendant) If the plaintiff is awarded a judgment against you, and you do not satisfy the judgment in full, the plaintiff may file for a writ of execution on the personal property. The personal property can then be sold at a public sale to help pay for the judgment.
What is a levy against personal property?
A levy is when a creditor is allowed to take and sell your personal property. This can be a tax levy or some other form of judgment.
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.
Can a lawyer seize your car and personal property to satisfy a civil judgment in the state of Washington?
In Washington, a lawyer cannot personally seize your car and personal property to satisfy a civil judgment. Typically, a lawyer would need to obtain a court order authorizing a law enforcement officer or a constable to seize and sell your property to satisfy the judgment.
Can personal property be levied when a judgment is placed against you for credit card deliquency?
Answer: If your credit card company obtains a judgment against you they may take any property of value that they can find.
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.
When a case is closed and the only money collected is less than the amount of judgment what happens?
Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed.Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed.Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed.Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed.
How do you go about putting lien for business debt?
You need to sue the debtor and if you prevail the court can issue a judgment lien. The judgment lien can be recorded in the land records and used by the sheriff to seize personal property.You need to sue the debtor and if you prevail the court can issue a judgment lien. The judgment lien can be recorded in the land records and used by the sheriff to seize personal property.You need to sue the debtor and if you prevail the court can issue a judgment lien. The judgment lien can be recorded in the land records and used by the sheriff to seize personal property.You need to sue the debtor and if you prevail the court can issue a judgment lien. The judgment lien can be recorded in the land records and used by the sheriff to seize personal property.
Is a corporation responsible for damage done by their employee to someones personal property?
not unless the employee was on company time or buisiness if the employee was on their own time the corporation is not resposable
What happens when a collection becomes a judgment?
States establish the type and amount of real and personal property belonging to the debtor that can be attached by creditor judgment. In most states a judgment can be executed as a wage garnishment or bank account levy or lien against real property or seizure and liquidation of non exempt property belonging to the debtor.
How do you collect on a judgment when defendant lives out of state?
File a "foreign judgment" against the real property owned by the judgment debtor. This is done by contacting the tax assessor/land office in the county where the debtor resides. If the debtor does not have real property that can be encumbered by a lien, the judgment holder will need to secure a domestic judgment (requires another suit) from the state court in the county where the debtor resides to seize personal property or garnish wages for the repayment of the debt.
