0
In most jurisdictions the bank can attach any other assets you have. They cannot attach assets you transferred LEGALLY prior to this action unless the transfers were made for the purpose of avoiding creditors. If that was the case they can seek a judgment to capture the property so transferred.
What else can I help you with?
Is a judgment against the person or property?
The judgment is against the person, not the property.
What assets are protected against a judgment in a wrongful death civil suit?
Each state has different laws on what assets can be protected from judgment creditors.
Can a judgment in California be used against willed property?
Only insofar as the judgment can be levied against the estate of the deceased. Since it can be assumed that the willed property was part of the estate's assets then it can be liened if there are insufficient other funds in the estate's assets to satisfy the judgment.
What are proceeds from disposal of assets?
Proceeds from disposal of assets is equal to = Total cost of disposed assets- Accumulated depreciation related to assets disposed+ Profit on sale of fixed assets
If an attorney receives a judgment against you how does he collect if you own no assets?
Garnish your wages.
Can a judgment against you freeze your bank account in Pennsylvania?
The judgment holder will have to enforce the judgment. He/she will get leave of court to conduct a citation to discover assets, where they will grill the bank account holder on his/her assets. At some point down the line, the court can freeze the assets or order them turned over.
What assets or money can be taken from us if a judgment has been made against us to collect unpaid rent for a business we had to close?
It depends on the details. If the business was incorporated and the judgment was against the corporation the creditor can only take business property and assets. If you owned the business as individuals then a judgment creditor can take any of your assets to satisfy the judgment: bank accounts, vehicles, boats, equipment, real property, etc.
How happens if defendant has no assets?
If the defendant has no assets, they may not be able to pay a monetary judgment against them. In such cases, the plaintiff may not be able to collect on the judgment unless the defendant's financial situation changes in the future.
Washington state If a judgment is awarded against the husband is the wife's assets in jeopardy?
Yes in most cases there will be a consequence. The spouse is considered to have benefited from the assets of the other.
Is judgment proof legal in Kentucky?
"Judgment-proof" means that even if a plaintiff obtains its civil judgment against its defendant, the defendant has no assets from on which the court can levy in proceedings in aid of execution to satisfy the judgment. It also generally implies that as a result the defendant is not worth being sued, because the possibility of ultimately recovering a money judgment is nil.Added: There is no such legal principle as judgment proof. It is not a defense to a lawsuit. One can obtain a judgment against a defendant, regardless of the ability to collect the judgment. Plaintiffs often choose to proceed against defendants who appear to be judgment proof because they believe that the defendant will eventually have assets or income against which to collect.You are correct. The status of being judgment-proof is as a matter of fact and not a matter of law. Which is why I used the word "implied" and not the word "holds". Therefore, it is legal to the extent that as a matter of fact the judgment cannot be satisfied.
What does deficiency judgment mean?
A deficiency judgment is a court order that holds a borrower personally liable for the remaining balance on a loan after a foreclosure sale. If the sale of the property does not cover the full amount owed on the mortgage, the lender can pursue this judgment to recover the difference. This legal action allows the lender to seek repayment through various means, such as garnishing wages or placing liens on other assets. Deficiency judgments vary by state, with some states having laws that limit or prohibit them.
If you default on a rental property mortgage loan can the mortgage company go after your assets?
That depends on the state, and whether the financing was "non-recourse". The process you want to find out about is known as a "deficiency judgment".
