How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Legalease Your Own Question
Legalease
Legalease, Attorney
Category: Business Law
Satisfied Customers: 16333
Experience:  14 years experience corps, LLC's and partnerships; preparation, negotiation of complex contracts and business agreements
20355756
Type Your Business Law Question Here...
Legalease is online now
A new question is answered every 9 seconds

What property can be seized under a seizure notice to

Customer Question

What property can be seized under a seizure notice to satisfy a business debt
Submitted: 1 year ago.
Category: Business Law
Expert:  Legalease replied 1 year ago.

Hello there --

-

Both real estate and personal property (cars, equipment, machines, desks, etc) can be seized to satisfy a business debt. Also, any bank accounts or other accounts held at any financial institution are usually subject to the seizure notice. Truly, it is anything that the party doing the seizing can get their hands on so long as the property belongs to the business that is being acted against. In a circumstance where a car is titled and registered to an owner, then that could NOT be seized because it is legally the property of the individual and not the business (the party seizing the property can go back to court to try to get an additional lien on personal property titled in the business owner's names if the seizing party can prove to the court that the car or other items are really owned by the business and not the owner personally).

-

I hope that helps. Please let me know if you have any follow up questions. If not, can you please press a positive rating above (the middle star or the fourth or fifth star to the right of the middle star are positive ratings) so that I will be paid for my time. I am paid nothing unless you press a positive rating before leaving the website. Doing so will not cost you any additional money -- it simply works as the trigger to Just Answer to pay me for my time. THANK YOU VERY MUCH

-

MARY

-

Related Business Law Questions