When a judgment debtor isn’t paying a judgment, the judgment creditor has the option of sending a court order that requires that debtor to disclose various assets and financial information to make collection possible. If the debtor fails to do so, the creditor can request that the debtor be held in contempt of court. A finding of contempt can result in the issuance of an arrest warrant, fines, and/or jail time for the debtor.
The requirements for Demands for Disclosure are outlined in Minnesota Statutes Sections 491A.02, subd. 9 and 550.011. In order […]
With the year’s end quickly approaching, it’s time to ask: Do you have a Will? I was contacted earlier this year by 96.3fm K-TWIN to talk with their morning show hosts about why everyone needs a Will. Wills are part of what we call estate plans, which can include Wills, Funeral Directives, Healthcare Directives, Powers of Attorney, Trusts, and more. If you’re wondering why you need a Will or estate plan, here are two main reasons:
1) Having An Estate Plan Benefits You. Anyone can benefit from the satisfaction and peace of mind […]
Garnishment and Levy of Assets in Minnesota
Under Minnesota law, a judgment debtor’s assets may be recovered by a judgment creditor through a sheriff or an attorney and used to satisfy a judgment. This includes both cash assets, such as bank accounts, and tangible property, such as vehicles or equipment.
Garnishment is essentially an order instructing a party to hold any property it may possess that belongs to the judgment debtor. A garnishment can generally be used at any time after a judgment is entered. It can also be used before a judgment is entered […]
What is a Mechanic’s Lien?
A mechanic’s lien is a simple, cost-effective tool that helps contractors, subcontractors, designers, and materials suppliers get paid for their work. A lien is an ownership right in property, and a property subject to a lien generally cannot be sold or refinanced until the lien either expires or is satisfied. The lien holder can also bring a court action to obtain a judgment based on the lien or, in some cases, an order allowing a sale of the property to pay the debt. To qualify for a lien, the materials […]