0
Can the IRS seize property that Quit claim deeded to your spouse?
Wiki User
∙ 16y ago
If they can prove that you quit claimed it just to move it out of reach of creditors, yes. That comes dangerously close to defrauding a secured creditor, especially if they had a lien in place already. If you had a legitimate reason to quit-claim it, you may be able to make an argument.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
If a wife dies with c-card debt only in her name with no will is spouse responsible to pay the debt and if he cant can they seize joint property to do so like a home that's paid for?
The estate is responsible to pay the bills. The property can be sold to settle the debts.
What can one do to recover property that has been seized by police?
One can recover his property, which was seized by the police, at the police compound, in which they store all confiscated items. One should come with the proper documents that confirm his claim to the property as well as confirming that he has the right to seize them back.
How can you put the word seize in a sentence?
The police were able to seize the drugs during the raid.
Is A writ of attachment is a court order to seize a debtor's property before the entry of a final judgment in a creditor's?
Yes, a writ of attachment is a court order that allows a creditor to seize a debtor's property before a final judgment is entered. It is a legal remedy used to secure the creditor's claim and prevent the debtor from disposing of their assets to avoid payment.
Can a judgment creditor seize legally owned firearms?
most likely, property is property
Example of the word seize?
It is important to seize every opportunity that comes your way. The police officers will seize the stolen property. As a result of the lawsuit, he is able to seize your assets. With a search warrent, the officers are able to seize evidence from the scene.
Can the IRS levy property that is owned in the name of the innocent spouse when the liability was incurred prior to marriage?
No, If this was liability under the individual while he was single, then his/her current spouse will not incur that liability. Secondly, the IRS can't "levy" and asset per say;they normally seize bank account,wages,IRA's or Social Security Benefits. If the vehicle is financed, the IRS isn't going to levy (seize) it. The bank is holding the title and is listed as the first lien holder on that title. If the IRS tried to take it, the bank would just assert their position as the senior secured creditor and take the car themselves. The Internal Revenue Code says that the IRS cannot levy / seize an asset if there would be no net proceeds to the IRS from the seizure. They would get nothing in this case, therefore they will not seize the car.
Can you stop a creditor from freezing funds in a joint checking account that includes the paychecks of your spouse who is not involved in the debt?
Yes. Creditors cannot seize bank accounts except by due legal process. Which entails filing a lawsuit, winning a judgment, executing the judgment against the debtor's nonexempt property. The defendant is given an opportunity to claim exempted property before the judgment is rendered. A summons should never be ignored. Not appearing to defend a suit results in automatic default for the defendant.
If you have a default due to someone sueing you how does that affect you?
A 'default judgment' is awarded to the plaintiff when the defendant does not appear in court to defend themselves against the claim. If the judgment was awarded to them in your absence, then you are required to obey the courts finding. Depending on what the claim was for, and in what amount, they may be able to seize, or place a lien against, property of yours equal in value to the claim they won.
Can a creditor garnish your bank account in North Carolina?
It depends. Bank accounts can be seized, however, this is subject to limitation. Creditors must send out a Notice of Rights to the debtor which includes a Motion to Claim Exempt Property before they can execute on a judgment and seize a bank account. The debtor can claim the bank account as exempt if it contains less than a certain amount of property. Even if it is not claimed as exempt, wages in North Carolina earned within the past 60 days are not subject to execution, nor are certain federal benefits. Also, property of a spouse cannot be taken to satisfy a judgment against a defendant if the judgment is not also against the spouse. Still, creditors frequently seize first and ask questions later. Most people don't do anything about even an illegal seizure because they believe they cannot afford an attorney. The truth is that if the seizure is illegal, the law requires the creditors to return the money AND pay the debtor's attorney fees. If your bank account has been seized, contact an attorney to know your rights.
Can the mortgage company seize your IRA or annuity account in Florida?
My mother is 75 and is facing foreclosure on her property. She is concerned of what the mortgage company can seize of her personal property, especially her IRA, annuity and car. What are they legally allowed to take?
When a foreclosure occurs and the lender is unable to sell the property for what's owed can they seize other assets from you such as savings acc ounts or rental property?
Your mortgage company does not have the right to seize anything. They do have the right to go through a legal process and sue you for the balance. They may place a lien on other property you own, choose to garnish wages or a variety of other methods to collect. They are not able to seize.
