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Where there are joint owners a creditor of one can petition the court for a judgment. If the creditor is successful and the debt isn't paid then they could petition to partition (sell) the debtors interest. You may need to purchase that interest to keep your property ownership close with no third party owning an interest.
What else can I help you with?
Can a judgment creditor foreclose on property jointly owned if only one person was named on the judgment?
No
Is a judgment against the person or property?
The judgment is against the person, not the property.
What is A sum of money placed on a person property's or income?
A sum of money placed on a person's property or income is typically referred to as a lien. A lien is a legal right or interest that a lender or creditor has in the borrower's property, granted until the debt obligation is satisfied. It serves as a security for the repayment of a loan, allowing the creditor to claim the property if the borrower defaults. In essence, it ensures that the lender has a legal claim to the asset as collateral for the debt.
What is a secured party creditior?
A creditor is a person or organization to whom one owes money. A secured party creditor is one who has a lien on tangible property, such as a car or house, until the money is paid back.
Can a person place a lien on their own property to protect it from creditors?
No, such an action is not possible, and even if it were it would not protect the person's property from creditor action. Personal and real property belonging to a debtor are protected from creditor attachment to the extent provided by the laws of the debtor's state. The exemptions that can be used to protect specific property against a judgment creditor are the same ones that are used when filing bankruptcy and in certain circumstances federal non-bankruptcy exemptions can be used as well.
What can the hospital do if your mother couldn't pay her hospital bill and passed away?
A hospital can seek a court order to seize any property owned by your mother at the time of her death in order to satisfy the debt. However, if she owned no property the creditor is out of luck unless some other person signed a contract agreeing to be responsible.A hospital can seek a court order to seize any property owned by your mother at the time of her death in order to satisfy the debt. However, if she owned no property the creditor is out of luck unless some other person signed a contract agreeing to be responsible.A hospital can seek a court order to seize any property owned by your mother at the time of her death in order to satisfy the debt. However, if she owned no property the creditor is out of luck unless some other person signed a contract agreeing to be responsible.A hospital can seek a court order to seize any property owned by your mother at the time of her death in order to satisfy the debt. However, if she owned no property the creditor is out of luck unless some other person signed a contract agreeing to be responsible.
Who is a creditor?
The creditor is the person who provided services, goods, or credit.
Is a home that is owned by two unmarried people in Pennsylvania exempt from a creditor judgment the debt is only from one person Both people live in the home?
No, the portion of the property owned by either is an asset available to creditors of that person. The court can force a sale and distribute the funds to the owners according to their ownership percentages.
What if a creditor is threatening to come to my house?
In the majority of states a creditor or collector can go to the residence of the debtor. However, the debtor or owner/renter of the residence can request that the person leave and not return. If said person does not comply, the residential owner/renter can enlist the assistance of the local police to have he or she removed from the property.
Can a creditor take a car that is in two names if the lawsuit is only against one person?
Generally, if the car is jointly owned, a creditor may be able to go after the co-owner's interest in the vehicle. However, laws vary by jurisdiction and the specific circumstances of the case can also impact how the creditor can pursue the debt. It is advisable to consult with a legal professional for guidance on this matter.
Can an elderly person have her Social Security garnished because her car was repossessed and sold for less that what she owed on it?
No, ALL Social Security benefits are protected by both federal and state laws and are totally exempt from creditor actions. A creditor has other options than garnishment, if the person owns real property, although for most seniors any property will likely be protected under state laws.
What is the difference between guardian of a person and guardian of a property?
A guardian of a person is responsible for making decisions related to the individual's personal welfare, such as healthcare and living arrangements, while a guardian of property is tasked with managing the individual's finances and assets. These roles can be separate or combined depending on the situation and jurisdiction.
