A judicial foreclosure proceeding can be initiated at any time after default on a secured obligation or a judgment which constitutes a lien on real property. The following form is a complaint that adopts the "notice pleadings" format of the Federal Rules of Civil Procedure, which have been adopted by most states in one form or another. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Arizona Motion for Satisfaction of Money Judgment by Judicial Sale
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How to fill out Motion For Satisfaction Of Money Judgment By Judicial Sale?
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And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Arizona, a judgment lien can be attached to real estate only (meaning a house or similar property).
The exempt property may include community, joint or separate property of the judgment debtor. B. If the judgment debtor dies or absconds and leaves a spouse or dependent any property that is exempt under this section, the property remains exempt to the spouse or dependent.
Collection Methods There are 2 primary methods to collect a debt: Writ of Garnishment or Writ of Execution. Writ of Garnishment is often referred to as garnishing a debtor's wages. A written notice is served to both the debtor and the debtor's employer or financial institution.
In Arizona, the person in whose favor a judgment has been entered can record a copy of the judgment to create a lien against property owned by the judgment debtor.
If an injured party wins a lawsuit against you, just about anything of value could be seized, including: Bank accounts. Boats. Jewelry. Real estate. Vehicles.
If the prevailing party fails to file a satisfaction of judgment or cannot be located after the opposing party has exercised due diligence in attempting to locate the prevailing party, the opposing party may file a motion to compel satisfaction of the judgment.
Bankruptcy should always be considered a last resort, but if you have to enter this personal insolvency procedure: It will write off all the debts you owe, as long as you can prove the debt. Any assets you have will be seized, and the debt management company will use the proceeds to pay your creditors.