A new client this week wanted help to deal with a money judgment against him in favor of the U.S. Securities and Exchange Commission. The client’s main assets were a Florida homestead and a company pension. He is a salaried employee and supports his spouse and children. I have explained…
Institutional lenders understand well Florida’s tenants by entireties protection, and they understand that they may not be able to enforce promissory notes against a married borrower unless the note is signed by both the borrower and his spouse. For this reason, most lenders will insist on joint signatures to loans…
You judgment creditor can target automobiles you own free and clear of any lean. Clients often ask me how a creditor goes about taking their cars. A particular concern is about creditors entering the homestead grounds to take a car parked in the debtor’s driveway or the debtor’s garage.
A debtor owned a series of single member Delaware limited liability company. Delaware law provides that the charging lien is the exclusive creditor remedy to attack all LLCs regardless of the number of members. Most other states including Florida provide that a creditor can foreclose the debtor’s interest in a…
Many of my Florida clients need asset protection planning to protect themselves against claims in another state. A creditor that obtains a judgment in another state can enforce the foreign judgment through Florida’s courts to collect money from the debtor residing in Florida.
Here is a straight forward, frequent question from one of my asset protection clients pertaining to the location of discovery in execution of a civil judgment.
Many small business loans from banks are secured by the business’s tangible personal property including office furniture, equipment, and inventory. The lender typically records a UCC 1 to give public notice of its lien and security interest in the debtor’s property.
garnishment execution judgment
A judge has broad equitable powers to enforce judgments and recover fraudulent transfers. Suppose a debtor moves money and other financial assets beyond a creditor’s reach making more difficult for the judgment creditor to recover the assets to satisfy the judgment.
Most people bank at local branches of traditional banks, such as Sun Trust, Bank of America, etc. A judgment creditor can garnish funds in any of the debtor’s bank accounts by serving a writ of garnishment on the bank. One of my clients banks only at so-called “internet banks,” such…
