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Question

My husband and I are being sued over a real estate transaction and accused of fraud. The lawsuit is very complicated and is expected to go on for years. If we loose the lawsuit, can they take our house? What can be seized? We live in Pennsylvania.

Submitted: 662 days and 6 hours ago.
Category: Tax
Value: $30
Status: CLOSED
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Warrington, Pennsylvania

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Accepted Answer

Dear amazedin,

This sort of thing is not legislated or codified. it is handled at the discretion of the court as part of the judgment process.

It is not consistent that evey judgment will result in the loss of a home or other assets. Once a judgment is rendered, the litigant must file for inforcement or collection.

This is sometimes done concurrently with the judgment for damages.

The Judgment can: allow for liens to be filed on your property, bank account, and garnishments from salary. None of this is absolute and has to be orderd by the court.

Just know that it is possible to have a lien placed on your home to secure a judgment, and your car, and your bank accounts.

If in the process you lose, and a lien is placed on your house to secure the judgment, and you can not make payment arrangements or you can not meet obligatiosn as ordered by the court, then the person could forclose on the liens, and in that way you may lose the home.

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Expert: Ed Johnson
Pos. Feedback: 99.2 %
Accepts: 
Answered: 1/30/2008

Tax Preparer

GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee

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