A chose in action is essentially a right to sue. It is an intangible personal property right recognized and protected by the law, that has no existence apart from the recognition given by the law, and that confers no present possession of a tangible ob
Hawaii Assignment of Money Judgment refers to the legal process in which a party transfers their right to collect a money judgment to another individual or entity. This transfer allows the assignee, the party to whom the judgment is assigned, to step into the shoes of the original judgment creditor and pursue the debt owed by the judgment debtor. In Hawaii, there are two primary types of Assignment of Money Judgment: voluntary assignments and involuntary assignments. Voluntary Assignment of Money Judgment: 1. Private Assignment: This type of assignment occurs when the judgment creditor willingly transfers their right to the judgment amount to a third party. It is usually done as a means to expedite payment or for financial reasons. Involuntary Assignment of Money Judgment: 1. Creditor's Assignment: When a judgment creditor fails to collect the money judgment, the court or judgment debtor may initiate a creditor's assignment. This process allows the creditor to transfer their right to the judgment proceeds to an assignee who can more effectively pursue collection. Hawaii Assignment of Money Judgment involves specific steps, including the following: 1. Consent and Agreement: Both the assignor (original judgment creditor) and assignee must enter into a written assignment agreement, outlining the terms of the assignment and the transfer of rights and obligations. 2. Filing with the Court: The assignment must be filed with the court where the judgment was obtained, along with a copy of the judgment. 3. Notice to Parties: The judgment debtor must be notified of the assignment, either by the assignor or the court, informing them of the change in the collection process and the new party authorized to collect the debt. 4. Recording Assignment: The assignment document is typically recorded with the county clerk's office to give notice to potential third-party purchasers or encumbrances of the assignee's interest. 5. Collection Proceedings: The assignee can then initiate collection proceedings against the judgment debtor, employing various legal remedies to secure the payment of the judgment amount. In summary, Hawaii Assignment of Money Judgment involves the transfer of the right to collect unpaid judgments from the original judgment creditor to an assignee. This process can be voluntary or involuntary, depending on the circumstances. Voluntary assignments are usually initiated by the judgment creditor, while involuntary assignments may arise when the judgment creditor is unable to collect the debt. Understanding the different types and steps involved in the assignment process is crucial for both judgment creditors and debtors in Hawaii.
