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Asset Attachment

In the event of a personal injury lawsuit, the plaintiff may seek to attach a person’s property or asset to the claim if he or she suspects that the defendant will have insufficient insurance to cover the damages that the plaintiff sustained. This works well sometimes but can be subverted.

In the event of a lawsuit, some people choose to attach the defendant’s home or houses to their claim to ensure that their damages will be paid. This works well if the defendant owns the property on his or her own; however, it may be less successful if the bank owns the majority of the property or if the defendant owns the property with his or her spouse in the entirety.

If the property is owned by a couple by the entirety, the property can be attached to a lawsuit but it is unlikely that the person will be able to execute on the claim. This is because most states have determined that in the event of a lawsuit or a debt that assigns to only one of the people in the marriage, the home cannot be taken if it is owned in the entirety. So the debt that is assigned to one party to pay the plaintiff for injuries cannot be paid off by selling or seizing the home since the couple owns the home, not one person.

If a bank owns the majority of a property and it is sold to cover the damages, the bank still has to be paid for the money they put up for the mortgage in the first place. If there is very little value in the home past what is owed to the bank, the plaintiff still may not receive damages if the home is sold.

Contact a Cincinnati Personal Injury Lawyer

If you have been injured by another party’s negligent or intentional actions, contact the Cincinnati personal injury lawyers of Stepleton Dugan, LLC at 513-321-7733 to learn more about your legal options.

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Stepleton Dugan, LLC
6071 Montgomery Road
CincinnatiOH 45213
(513) 321-7733
Stepleton Dugan, LLC
6071 Montgomery Road
Cincinnati, OH 45213
(513) 321-7733

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