Attachment (law)

Attachment (law)

Attachment is a legal process by which a court of law, at the request of a creditor, designates specific property owned by the debtor to be transferred to the creditor, or sold for the benefit of the creditor. [Anon.] (1911)] A wide variety of legal mechanisms are employed by debtors to prevent the attachment of their assets. For example, a declaration of bankruptcy will severely limit the ability of creditors to attach the property of the debtor.Fact|date=February 2008 Many juristictions have a homestead exemption or other property exemptions which limit the ability of creditors to attach the debtor's primary residence, vehicle, and/or personal effects.Fact|date=February 2008

Where the attachment is against property in the possession of, or owed by, a third party, the process is sometimes known as foreign attachment.

Bibliography

* [Anon.] (1911) " [http://www.1911encyclopedia.org/Attachment Attachment] ", "Encyclopaedia Britannica"

References


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