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When a creditor gets a judgment against a debtor, the creditor has to take steps to get the judgment paid. This process is called execution. Execution usually means that an officer of the law comes to the debtor's home or workplace to take things the debtor owns. The items that are taken are sold to pay the judgment.
Up to $50,000 of personal property for an individual. Up to $100,000 in personal items for a Texas family. Home furnishings. Provisions for consumption; livestock, farm implements.
Texas Property Code §42.0021 exempts from the claims of creditors a person's right to assets held in, or to receive payments (whether vested or not) from, any stock bonus, pension, profit- sharing, or similar plan, including a retirement plan for self-employed individuals any annuity or similar contract, and any ...
In Texas, wage garnishment is prohibited by the Texas Constitution except for a few kinds of debt: child support, spousal support, student loans, or unpaid taxes. A debt collector cannot garnish your wages for ordinary debts.
Your homestead, which is the home you live in most of the time, is protected from most judgment creditors. A homestead can include up to 10 acres of urban property (single or family) and up to 100 acres of rural property (single) and 200 acres (family).
In Texas, your primary residence. Exempt personal property, which generally includes a single vehicle up to a certain value. In Texas, it also includes personal property up to $50,000 for an individual, or $100,000 for a family, tools of your trade, clothes, and pets.
Ing to Section 52.001 of the Texas Property Code, a judgment lien cannot attach to any real property that is exempt from seizure or forced sale under Chapter 41 of the Texas Property Code. Homestead property is the most common type of exempt real property.
In the State of Texas, judgments are considered valid for at least ten years, after which time the creditor can undertake relatively easy efforts to have judgment renewed for another ten years, and then another ten years after that, and so on.