Can personal property be seized from the president of a corporation that has a judgment against it?
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.
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. Read More
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… Read More
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. Read More
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. Read More
Answer: If your credit card company obtains a judgment against you they may take any property of value that they can find. Read More
Can a lawyer seize your car and personal property to satisfy a civil judgment in the state of Washington?
Could a personal property attorney would answer this question please? And add what the process is to do so if affirmative. Read More
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. Read More
By executing the judgment against real and personal property belonging to the judgment debtor in accordance with the laws of the state where the debtor resides and/or owns property. You file the execution of the writ of judgment with the clerk of the court in the county and state where the judgment was entered and the debtor resides In some situtations a 'foreign judgment' can be executed against real property owned by the debtor that… Read More
Perhaps, it depends upon the personal property exemptions allowed by the judgment debtor's state and/or the nature of the judgment itself ( personal injury, credit card debt, etc.) Read More
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. Read More
not unless the employee was on company time or buisiness if the employee was on their own time the corporation is not resposable Read More
You go to court and get a judgment against the person. Then you can file a lien against their property. Read More
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… Read More
In the United States housing co-ops can be set up in various ways. Some co-ops are managed by a trust with the trust holding title to the property and some co-ops are set up as a corporation with the corporation holding title to the property. Residents are shareholders and specific units are leased with cost based on the size of the unit. As shareholders the shares are considered personal property. As for the entity that… Read More
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. Read More
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… Read More
It means the creditor has won a lawsuit, been awarded a writ of judgment and can execute the judgment against non-exempt assets and property as defined by state law that belongs to the judgment debtor. The preferred method of executing a judgment is by wage garnishment, followed by bank account levy, the seizure and liquidation of non-exempt property and liens against real property. The state exemptions allowed for personal and real property when properly used… Read More
An abstract of judgment is a document produced by a court that describes the judgment rendered in a case. If you own real property it can be recorded in the land records and will become a lien against your property. You cannot sell or mortgage the property until the judgment lien is paid. Interest will accrue at a statutory rate until then. If the creditor can locate any bank or investment accounts that you own… Read More
A creditor judgment can be executed as a wage garnishment or bank account levy or seizure and sale of non exempt personal property or a lien of a possible forced sale of real property held by the debtor. Read More
Can a lien be placed on a house to allow personal property to be recovered from the residence in New York?
The usual method for recovering property left in a residence that the present tenant or landlord refuses to release is through small claims court. The owner of the personal property must file a claim in court and win a judgment. The court would issue an order for the recovery of the property or money damages, not a lien. In most cases in is illegal for someone to hold personal property unless the holder has a… Read More
Personal loan is Unsecured loan, that's Why none of the personal property taken by bank. Its happen only in Secured Loan. Answer & Clarification The lender can take you to court and obtain a judgment lien. Once they have the judgment lien they can take anything you have to satisfy the lien: your car; bank account; home; any real or personal property you own. Some creditors are very persistent and the debt grows very fast… Read More
Yes. The plaintiff can request a judgment lien and it can be recorded in the land records or used by a sheriff to seize any personal property that can satisfy the debt. If recorded in the land records the defendant's real property cannot be sold or mortgaged until the debt is paid and the lien released. Yes. The plaintiff can request a judgment lien and it can be recorded in the land records or used… Read More
The judgment holder can execute the judgment by wage garnishment, bank account levy or the seizure and sale of non-exempt personal property, or a lien against real property. Small claims judgments are generally restricted to monetary recovery only and do not allow placements of liens or forced sale of property. Read More
Property-yes. If you owe a creditor & they get a judgment they can garnish or in some cases put a lien on personal property which must be satisfied at the time of sale. Read More
If someone has taken you to court and won a money judement in their favor the court will issue a judgment lien that can be recorded in the land records against your real property. You cannot sell or refinance your property until the lien is paid. The lien affects any property you may own. If you have no real property the sheriff can sieze any personal property you own in order to satisfy the lien. Read More
Yes. Some judgments can be discharged in bankruptcy. Judgments that have been perfected into property liens cannot as the judgment holder becomes a secured property creditor. Judgments awarded in conjunction with personal injury or property damage caused by negligence are generally not dischargeable. Read More
A writ of execution (also known as a writ of final judgment) is an order from the court allowing the judgment holder to attach or seize real or personal property belonging to the judgment debtor. Example, garnishment of the debtor's income/wages. Read More
The judgment creditor can execute the writ according to the laws of the state in which the judgment debtor resides. The preferred method is wage garnishment or bank account levy. Other options for the judgment creditor is the seizure and sale of unexempt real and personal property belonging to the debtor or liens against real property belonging to the debtor. Read More
Can a lien be placed on your personal property by a credit card company if the account is in arrears?
A creditor must follow due process as prescribed by the laws of the state where the debtor resides. For a lien to be placed against real property the creditor must first sue the debtor, be awarded a judgment and enforce the judgment as a property lien. Read More
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. Read More
A lien is considered personal property. A lien is considered personal property. A lien is considered personal property. A lien is considered personal property. Read More
Whatever the state in which the judgment was granted allows. All Social Security benefits and public assistance are exempt from creditor judgments as are the majority of pension both private and military. Generally the personal and property exemptions that are allowed in BK are the same as those used to protect assets and property in the execution of a creditor judgment. Read More
The creditor can file suit against the debtor and if the creditor is successful and is awarded a judgment the judgment can be executed against all non exempt real and personal property belonging to the judgment debtor. Read More
There are several classifications of judgments, but they are all executed by the same basic method. A judgment creditor may execute the writ according to the laws of the judgment debtor's state. Some ways of enforcing a judgment are; income garnishment or levy against bank accounts or seizure and sale of non exempt property or liens against real property. The judgment debtor is allowed specific exemptions for real and personal property, exemptions will differ from… Read More
A corporation cannot have a Will. Wills are for distributing the property of an individual after their death. A corporation cannot have a Will. Wills are for distributing the property of an individual after their death. A corporation cannot have a Will. Wills are for distributing the property of an individual after their death. A corporation cannot have a Will. Wills are for distributing the property of an individual after their death. Read More
A judgment can be executed in several ways, the preferred method for a judgment creditor to recover monies is through wage garnisment. Bank account levy, liens against real property owned by the judgment debtor. In some U.S. states the seizure and sale of unexempt personal property held by the debtor (CD's, jewelry, electronics, items of value) is also allowed, but the action is rarely implemented by the judgment holder. Read More
When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid. When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid. When a judgment is recorded in the land records it becomes a judgment… Read More
No. Generally a bank has obtained a judgment to foreclose on a mortgage covering a specific property with the dwelling or building. They only have the right to take the property covered by the mortgage. They have no right to take any personal property. In some jurisdictions the bank may go back to court for any deficiency if the foreclosure auction brings less than was owed on the mortgage. In that case the bank may… Read More
An account is charged off before a judgment. The judgment creditor can execute the judgment against non-exempt property belonging to the debtor as a means to recover monies owed. The preferred method is wage garnishment followed by bank account levy or a lien against real property. It is also possible for the creditor to seize and sell other personal property belonging to the debtor, but creditors are generally reluctant to take such action. Read More
The population of Municipal Property Assessment Corporation is 1,500. Read More
If a judgment has been granted that would signify that a lien has been placed upon your property.Therefore, the property cannot be sold until the debt has been paid in full.Or the court can order the property to be sold.If that did not happen in the original judgment grant it is unlikely that the judgment can be modified to allow it.If it is on your credit report, that is irrelevant,(for the time being). Because you… Read More
Can you declare bankruptcy on a judgment for a car accident and if so would you be able to get a license again if it was revoked as a result of the judgment?
No, judgments awarded due to personal injury or property damage are not dischargeable under bankruptcy law. Read More
What property can be seized or attached by a judgment creditor depends upon two basic things, the laws of the state in which the judgment debtor resides and the manner in which real property is held. Some of the methods of execution of a judgment are, wage garnishment (not allowed in a few US states); bank account levy (allowed in all US states, but depends upon how the bank account is established); seizure of non… Read More
The creditor can sue the debtor in civil court. If the creditor wins a judgment (99.9% of the time they will) said judgment can be ebforced against personal property owned by the debtor, for example a levy against a bank account or lien on real property. Read More
The judgment creditor dockets the judgment with the clerk of the court and then proceeds to enforce it in whatever manner is allowed under the laws of the debtor's state. Some methods that can be used by the creditor are, wage garnishment or bank account levy or seizure and sale of non exempt property or a lien against real property or the portion owned by the judgment debtor. It would be prudent for the judgment… Read More
State laws dictate what personal and real items belonging to a debtor are exempt from execution of a judgment writ. The preferred method of judgment creditors for enforcing the writ is wage garnishment or bank account levy against the judgment debtor. Generally the same property that is exempted in bankruptcy proceedings will also be exempted from attachment by a judgment creditor. It is in the best interest of the judgment debtor to obtain legal advice… Read More
"An LLC Corporation is often used by small business owners to protect them from monetary liability. When you set up an LLC Corp. your personal property, i.e., house, car and other personal assets are off limits from being included in a lawsuit against your business." Read More
A judgment against the trustee in his individual capacity will not affect the trust property. A judgment against the trustee as the trustee will become a lien on the trust property. Read More
Personal Property Read More
Generally, in NJ, almost any assets can be used to satisfy a judgment. Some states provide for a "homestead exemption" which prevents a home (if the debtor lives there) from being taken by creditors, or at least prevents the owners from being evicted by the creditors, even if other assets are insufficient to cover the judgment. However, New Jersey has no such exemption. There is, however, an order that creditors must follow in going after… Read More