What Happens If You Fail To Comply With a Court Order to Turn Over Assets?
FFGN COLLECT NY
NOVEMBER 10, 2024
Some assets owned by a judgment debtor may be subject to seizure by a judgment creditor. If unsecured, the assets (e.g., bank accounts, brokerage accounts) can be transferred or sold to benefit the creditor. There are other assets that require a court order to transfer assets or the debtor’s interest in the asset to the creditor. Take, for example, a home owned jointly by two people.
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