Puerto Rico Agreed Judgment of Forfeiture
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How to fill out Agreed Judgment Of Forfeiture?
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FAQ
Criminal forfeiture operates as punishment for a crime. It, therefore, requires a conviction, following which the state takes the assets in question from the criminal. Civil forfeiture rests on the idea (a legal fiction) that the property itself, not the owner, has violated the law.
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.
A general example of forfeiture is a failure to make payment under a contract for the sale of immovable property. The advance for purchase of property is likely to be forfeited under the contract.
A criminal conviction is required, and forfeiture is part of the defendant's sentence. Criminal forfeiture is limited to the property interests of the defendant, including any proceeds earned by the defendant's illegal activity.
