Can Creditors Attach My Sold Property?

I have sold my property to the buyer on November 6th 2019, and registration was done same day but on Feb 4, 2020, which is 88 day from the registration date, 2 creditors sent a notice saying that I have to pay money to them. In this case, will the pr... Read More

I have sold my property to the buyer on November 6th 2019, and registration was done same day but on Feb 4, 2020, which is 88 day from the registration date, 2 creditors sent a notice saying that I have to pay money to them. In this case, will the property be attached by the court?
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Answer (1)

Aayushi Sang

Aayushi Sang

  • Sector-1, Noida

If a creditor wants to seize your property in order to enforce a judgment (a court order allowing it to seize your property to satisfy the debt), there are a number of categories of property it can take. It's important to know which property is subject to collection by judgment creditors.Keep in mind, however, that even if your property is subject to collection, you might be able to protect some or all of it with exemptions. State laws allow you to keep certain types of property, often up to a certain amount.

Answered on 19 Feb 2020


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