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The document outlines the procedures and legal stipulations for executing a judgment against a debtor's property, including exemptions for certain amounts in accounts containing direct deposits. It specifies the roles of the sheriff and garnishee, details on service of summons, and restrictions on levying execution against property owned solely by defendants not served with a summons.

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What does the title execution mean?

The word execution stands derived from the Latin word ex sequi which means to follow out, follow to the end or perform. Execution signifies in law the obtaining of actual possession of anything acquired by judgment of law. Execution signifies the last performance of an act.

What happens if a defendant does not pay a judgment in New York?

The default judgment usually gives the plaintiff the right to collect the amount of money that was asked for in the complaint, plus interest and court costs. The judgment will appear on the defendants credit report, and it can be there for up to seven years if it is not paid.

What is the execution date of a property?

What is the execution date of a real estate contract? The execution date of a real estate contract is simply the date that all parties sign the contract.

What does property execution mean?

After a judgment of possession is rendered by the court, the judge may then issue a writ of execution to begin the transfer of property. The judgment for possession states the plaintiff has a right to the property; the writ of execution actually begins the transfer process from a judgment debtor to a plaintiff.

What is the difference between a writ of garnishment and a writ of execution?

Therefore, the writ of garnishment is often used to seize liquid assets , and the writ of execution is often used to seize non-liquid assets.

What is an execution on a property?

In California, a judgment creditor can request a writ of execution from the court that entered the initial judgment. This compelling document empowers law enforcement officers to seize assets.

Can a judgment creditor take my house in New York?

Can a Creditor Take My House to Pay My Debt in New York? Yes, its possible for a creditor to take a debtors house to obtain the payment of debt. Taking in this context means claiming legal rights to the house, not necessarily seizing it.

What is an execution on title?

A writ of execution (also known as an execution) is a court order granted to put in force a judgment of possession obtained by a plaintiff from a court. When issuing a writ of execution, a court typically will order a sheriff or other similar official to take possession of property owned by a judgment debtor.

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