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Yes. A judgment creditor can execute a forced sale of the motorcycle to recover monies owed. If there is still a loan lien on the cycle a forced sale would be very difficult. Also, the loan holder/lender can repossess the motorcycle under the same laws that apply to other vehicles if the borrower defaults on the lending contract.
What else can I help you with?
The debtor surrenders his nonexempt property for division among his creditors?
liqidation
What chapter proceeding the debtor surrenders his nonexempt property for division among his creditors?
The chapter that typically follows a debtor's surrender of nonexempt property for division among creditors is Chapter 7 bankruptcy. In Chapter 7, a trustee is appointed to liquidate the debtor's nonexempt assets to pay off creditors.
Whether gifts comes under exempt or nonexempt property in bankruptcy law?
The way or origin of how you got it is unimportant. What it is carries. A gift of your dinning room table or work tools are exempt - because these things are exempt. A gift of your boat, vacation house, lear jet, still wouldn't be.
If someone has a motorcycle in their name but someone has the property and is behind on payments can the motorcycle be voluntary repossessed by the main name even though someone else has the property?
Yes it can.
Do you need insurance for motorcycle in Delaware?
If you are going to ride your motorcycle on the road, you need insurance. This is in case of property damage or injury to your motorcycle or other person.
You are being sued by a credit card company for 7000 and you only make 7000 a year what can happen?
State laws govern how creditor lawsuits are adjudicated. In general,lif the creditor wins the suit (and they probably will) they receive a writ of judgment which can be executed against the defendent's nonexempt property. A writ can be used to garnish wages, levy bank account(s), place liens against real property, or liquidate any nonexempt property....Macky (macky83@juno.com) your screw'd
Will your house contents insurance cover a visitors stolen motorcycle from your garden?
Ordinarily, no. Contents coverage is intended to cover the loss or damage to property kept within your home. The property is generally considered to be household furnishings and similar personalty.
Is a motorcycle considered an automobile?
yes
Why is a motorcycle not considered living?
It is not living.
Is a motorcycle considered not living?
It is not living.
What do you do when you have a motorcycle on your property that you dont want there?
take it to a salvage yard .
Is a horse considered real property?
No. A horse would be considered personal property/No. A horse would be considered personal property/No. A horse would be considered personal property/No. A horse would be considered personal property/
