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Loren
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If I have a judgement against me and my bank account is in

Resolved Question:

If I have a judgement against me and my bank account is in my name and my mother in law's name, can they freeze the account in florida?

Also if I have a Sub S corporation and 17% of it is owned by other people, can they freeze the bank account if there's a judgement against me?
Submitted: 4 years ago.
Category: Legal
Expert:  Loren replied 4 years ago.
Judgments can be executed against joint accounts with the exception of accounts held by a married couple as Tenancy By The Entirety when only one spouse is the debtor.
The usual procedure is for the account to be frozen and the non debtor account holder filing a motion with the court to have the portion of funds belonging to them released.
The corporate account should not be at risk but any stock in your name is.
Customer: replied 4 years ago.
So if I have a personal account can I add my spouse and do it as Tenancy by the Entirety and then if only one of us is the debtor they can't freeze it?
Expert:  Loren replied 4 years ago.
Yes, an account held as tenants by the entirety is not subject to attachment for the debt of one spouse. Has to be against both spouses.

Edited by Loren Stone on 5/1/2010 at 3:55 AM EST
Customer: replied 4 years ago.
One more question!

When I opened the credit card account it was in my name as a corporate card. I have since changed the corporation to a Sub S corporation in October 2009. Its my card because the credit was obtained by my social security number. If they seek judgement against me and get it can they freeze the corporate account? And if I turn the stock over to my wife can they go after the stock?
Expert:  Loren replied 4 years ago.
They will probably be able to go after the corporate account if it was a corporate card, even if it is with you ss number. As far as the stock, you have to be careful. If a court determines that the only reason for transferring the stock was to defraud a creditor the court could undo the transfer. You need to have a reason for transferring the stock other than avoiding the judgment.
Loren, Attorney
Category: Legal
Satisfied Customers: 20998
Experience: 30 years experience representing clients.
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