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.[1] 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.[citation needed] 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.[citation needed]
Where the attachment is against property in the possession of, or owed by, a third party, the process is sometimes known as foreign attachment.[1]
Bibliography
- [Anon.] (1911) "Attachment", Encyclopaedia Britannica
References
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