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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.
In Oklahoma it is crucial to keep in mind the (5) year statute of limitation on your judgment. After that period, if the judgment is not renewed, it cannot legally be recognized in a court of law and can no longer be renewed if renewal period has passed.
Once a plaintiff has obtained a default judgment against a defendant, they can use it to collect a debt or damages in several ways. Collection efforts may include wage garnishments, property liens, seizure of assets held in bank accounts, and more.
MOTIONS TO VACATE OR MODIFY Within 30 days of the filing of the judgment, decree or appealable order, a party may file a motion asking the trial court to correct, open, modify or vacate its own decision pursuant to 12 O.S. §1031.
If at the end of sixty (60) days after the notice has been mailed or published there is no verified answer on file, the court shall hear evidence upon the fact of the unlawful use and may order the item forfeited to the state, if such fact is proven.
Oklahoma Judgments Can Be Renewed Indefinitely In Oklahoma, a judgment is good for five years. This means that the statute of limitations will expire within this time. Despite this, a judgment can be renewed indefinitely in Oklahoma by taking appropriate action at least every five years.
Under Rule 55 of the Federal Rules of Civil Procedure, when a defendant has failed to appear and deferred within the prescribed time limits, application may be made for Clerk's Entry of Default and for Default Judgment.
If there is a breach of an undertaking, the court before which the cause is pending shall issue, within ten (10) days, an arrest warrant for the defendant and declare the undertaking and any money, property, or securities that have been deposited as bail, forfeited on the day the defendant failed to appear.