Arizona Agreed Judgment of Forfeiture
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How to fill out Agreed Judgment Of Forfeiture?
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FAQ
What is an asset forfeiture money judgment? A: An asset forfeiture money judgment can be obtained when the proceeds or property involved in criminal activity cannot be located. In such cases, the Government establishes the value of the assets that would be subject to forfeiture.
Forfeiture is broadly defined as the loss of property for failing to obey the law, and that property is generally lost to the state. A person may have a vested interest in property to be forfeit in two ways: In personum jurisdiction and in rem jurisdiction.
I. Expiration of Arizona Judgments In Arizona, a judgment is initially effective for ten years after the date of its entry, and execution must be accomplished within that period. A.R.S. § 12-1551(B).
Under Federal law, there are three (3) types of forfeiture: criminal forfeiture, civil judicial forfeiture, and administrative forfeiture.
§982. Criminal forfeiture. (a)(1) The court, in imposing sentence on a person convicted of an offense in violation of section 1956, 1957, or 1960 of this title, shall order that the person forfeit to the United States any property, real or personal, involved in such offense, or any property traceable to such property.
Forfeiture is a legal mechanism whereby the government can take property that is used or acquired illegally, especially property associated with illicit drug trafficking.
Arizona Forfeiture Laws Legal forfeiture is permitted when the property being seized has been used in a criminal act. The state requires forfeiture so the evidence can be examined by the court. The court also can seize assets obtained using proceeds in abetting a crime.
Forfeiture refers to a loss of any property, money, or assets without consideration or compensation in return. A forfeiture generally occurs due to default in complying with repayment obligations under a contract. It can also be used as a penalty for an illegal way of conducting business.
