Any assets needed to satisfy the debt can be seized. The party must provide a receipt and track all proceeds. Anything obtained over and above what is needed to satisfy the judgment must be returned. If the judgment is for $5,000 and they seize items and sell them for $6,000, they must return the difference.
Other Contributor OpinionsAll US states have a list of exemptions to protect real and personal property from a judgment creditor, these exemptions are usually the same as those allowed in bankruptcy, plus non bankruptcy federal exemptions are available in some cases.All SS benefits, public assistance benefits and the majority of private pensions are exempt from creditor attachment.
Generally the most important exemption for most people will be that of the Homestead, which protects the primary residence from a forced sale by the judgment creditor, several states such as Texas have specific laws that do not allow the forced sale of a primary residence to satisfy a judgment.
There is also added protection for married couples living in states where marital property both real and personal can be held as Tenancy By The Entirety and only one spouse is the debtor.
States establish laws concerning what personal and real property can be attached by creditor judgments. In the majority of US states the debtor's wages can be garnished or bank account levied. Secured property such as a vehicle or home can generally be protected by the exemption allowed or a lien placed against real property belonging to the debtor. It is extremely important for homeowner's to be knowledgeable about the homestead exemption and how the primary residence should be titled and/or filed according to the state law. Some states have the homestead exemption "automatically" included in state statutes, other states require that a declaration of homestead be filed in the names of all the persons listed on the deed/title to the property. Exemptions that are allowed under the bankruptcy laws of the state in which the debtor resides are the same as those used to protect designated property from seizure by a judgment creditor. Non federal bankruptcy exemptions may also be applicable, (Social Security benefits, miltary or government pensions, etc.). Judgment exemptions are NOT automatically granted, the judgment debtor must file the claim for such with the court and the judgment creditor's legal counsel.
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.
They can levy them once they have a judgement.
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?
No.
if you have the ability to do an act required under a judgment then you can be held in civil contempt and actually jailed, however if it is strictly a monetary judgment then you cannot be incarcerated, but your wages can be garnished and your assets seized by the judgment holder.
Yes.
In Texas, a joint property can still be seized for a judgment against one spouse, even if the other spouse signed a quit claim deed before the judgment. This is because Texas is a community property state, and joint assets are generally considered to be owned equally by both spouses regardless of individual financial obligations or actions such as signing a quit claim deed.
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.
Guns are property just like any other and there is no particular reason why they would be immune from seizure.
Not directly (at least not legally). She could obtain a court judgment against you and have your assets seized.
Yes they can be ordered open, but it requires a different court order
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