What assets are subject to a judgement?
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What assets are subject to a judgement?
I have a judgement against me. I then moved to another state and the judgement got moved there. We bought a house for $70,000 cash; it is in both our names. My wife owns 2 cars and has $15,000 in the bank; she has a job making $300 per week. I do not work. Can they take my wife’s assets?
Asked on September 8, 2012 under Bankruptcy Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under the laws of all states in this country, if there is a judgment against you for an obligation that you incurred or for a tort while you were married to your current spouse, your own assets and those of both you and your spouse which are marital assets (her separate property is no subject to a levy) are at risk for collection purposes.
Your wife's wages are subject to a wage garnishment. If the $15,000 bank account is in your name, it is subject to a judgment levy. The house is subject to an abstract of judgment but is probably protected to an extent under your state's homestead exemption laws.
I suggest that you may want to consult with an attorney that practices in the area of consumer debt law to help you resolve the situation you are in due to the judgment against you.
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