Garnishee order: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Administrator (CSV import) |
imported>Doug Williamson m (Modified to take into account the more general nature of garnishment. Used the orginal narrow definition for banks and money as an example. See http://legal-dictionary.thefreedictionary.com/Garnishee+order) |
||
| Line 1: | Line 1: | ||
A court order that directs a person or entity who holds funds or assets for a debtor to withhold them from the debtor and release them to the debtor's creditor in order to pay off the debt. | |||
For example, an order from a court forbidding a bank to release money that it holds in the account of one party for as long as that party owes money to a second party. | |||
The second party obtains the garnishee order and the bank is the garnishee. | The second party obtains the garnishee order and the bank is the garnishee. | ||
== See also == | == See also == | ||
* [[Bad debts]] | * [[Bad debts]] | ||
Revision as of 11:04, 25 January 2014
A court order that directs a person or entity who holds funds or assets for a debtor to withhold them from the debtor and release them to the debtor's creditor in order to pay off the debt.
For example, an order from a court forbidding a bank to release money that it holds in the account of one party for as long as that party owes money to a second party.
The second party obtains the garnishee order and the bank is the garnishee.
