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
Florida Assignment of Money Judgment
Category:
State:
Multi-State
Control #:
US-0422BG
Format:
Word;
Rich Text
Instant download
Description
How to fill out Assignment Of Money Judgment?
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FAQ
The Length of a Judgment A judgment is good, and can be enforced, for up to 20 years. That seems like a long time, and it is. A judgment is good for 10 years and Florida allows a creditor to ?renew? a judgment before the expiration of the 10 years for an additional 10 years, thus giving a judgment almost unending life.
If the judgment debtor does not pay, you are entitled to get the sheriff to seize the judgment debtor's property. The seizing of property by the sheriff is called a levy. Once the sheriff has levied on the property, the sheriff will then sell it, and pay you out of the money the sheriff receives from the sale.
How do I collect my money? If you know where the Judgment Debtor banks, you can ask the Sheriff to collect money from their account (bank account levy). If you know where the Judgment Debtor works, the Sheriff can collect 25% of the debtor's wages each pay period until your judgment is paid in full (wage garnishment).
The lien is good for 10 years, but the creditor can renew the judgment before it expires for another 10 years, meaning the lien will survive for a maximum of 20 years. The good news is that because of Florida's homestead protections, a judgment lien cannot attach to homestead property.
Once properly recorded, judgments in Florida operate as liens on real property in the county where property is located. They also act as a lien against personal property located in the state when properly recorded with the state.
Return to the Clerk of the Court that originally issued your judgment and ask for a Writ of Execution. Deliver the Writ to the sheriff's department for the county where the debtor's property is located. Provide the sheriff's department with: A deposit to cover their fees and costs.
Unlike bankruptcy cases, there is no general automatic stay in assignments. Under Florida law, proceedings may not be commenced against the assignee. In Florida, all but consensual lien holders, meaning secured creditors and mortgagees, are prohibited from commencing proceedings against the assignee.
A money judgment is enforced by a writ of execution, unless the court directs otherwise. The procedure on execution?and in proceedings supplementary to and in aid of judgment or execution?must with the procedure of the state where the court is located, but a federal statute governs to the extent it applies.
