Liens on tangible personal property Flashcards
how to acquire a lien against tangible personal property
(1) clerk issues writ of fire facias within 21 days of date of judgment
(2) lien attaches for priority purposes at the time of the levy (sheriff seizes property and lists property in the return)
(3) writ is issued to sheriff, telling him to level on tangible personal property in the county
(4) sheriff describes the property found and what he did with it in the “return” (on the back of the writ)
(5) sheriff gives return back to the court usually within 90 days (otherwise void)
requirements for levying on personal property
(this happens after clerk issues the writ of fi fa telling him to levy on personal property)
(1) property belongs to the debtor at time of levy [not leased by debtor]
(2) sheriff seizes the property or observes with the power to exercise “control or dominion”
(3) sheriff serves copy of the writ on the judgment debtor
(4) sheriff describes the property seized in the return
(5) sheriff conducts public sale/auction
duration of lien on tangible property
time of levy to time of sale
debtor’s rights if the execution of the lien is improper
If any part of the execution procedure is improper, the debtor may move to quash the writ any time before the property is sold.
how to satisfy the fi fa
A fi fa is satisfied by sale of property at a public auction after due advertisement. A judgment creditor may buy at his own sale and is considered a BFP. The sheriff may not buy the seized property.