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Judgement and vehicle title


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So I have a judgement against me in NC for about 20k, my wife has two judgments for about 12k each. I plan to take care of these next year but for reasons thats hard to explain I cannot do it now. We have a auto lease ending next month and we need to get a car for my wife to drive. Our credit is in terrible shape and I prefer not to borrow money right now. I do have some cash and I want to buy a car for about 20k for her and pay with cash. 

 

Now, with these judgments I know if I were to put the vehicle in mine or her name only they could execute the judgement and threaten to take the car if I cannot pay. However what if I put the vehicle title in both of our names would they be able to? One of my wifes creditors did execute their judgement a while back. The sheriff person called me and told me he saw I had no assets he could get so he told the creditor I had no assets. I asked about the house which I have about 100k equity in and he said since the house was in both of our names and the debt was only in one of our names he could not take it. I was wondering if the same applies to vehicles?

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58 minutes ago, Klesko said:

So I have a judgement against me in NC for about 20k, my wife has two judgments for about 12k each. I plan to take care of these next year but for reasons thats hard to explain I cannot do it now. We have a auto lease ending next month and we need to get a car for my wife to drive. Our credit is in terrible shape and I prefer not to borrow money right now. I do have some cash and I want to buy a car for about 20k for her and pay with cash. 

 

Now, with these judgments I know if I were to put the vehicle in mine or her name only they could execute the judgement and threaten to take the car if I cannot pay. However what if I put the vehicle title in both of our names would they be able to? One of my wifes creditors did execute their judgement a while back. The sheriff person called me and told me he saw I had no assets he could get so he told the creditor I had no assets. I asked about the house which I have about 100k equity in and he said since the house was in both of our names and the debt was only in one of our names he could not take it. I was wondering if the same applies to vehicles?

Are the funds you would use in an account with both names on it?  If so, then YOU don't purchase anything.  Otherwise, you need to become well-versed in how the courts have held in your jurisdiction about fraudulent conveyances...

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37 minutes ago, centex said:

Are the funds you would use in an account with both names on it?  If so, then YOU don't purchase anything.  Otherwise, you need to become well-versed in how the courts have held in your jurisdiction about fraudulent conveyances...

The money will be coming from a joint account yes. 

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The power of the Sheriff to levy on property is statutorily limited: only property owned by the debtor (not the interests of another joint owner or property owned as tenants by the entireties) is subject to execution, and the Sheriff cannot resolve ownership or valuation disputes, which must instead be adjudicated by the Court. See N.C.G.S. §§ 1-302 et seq.

 

I found this in a article which seems to indicate that property titled to multiple people cannot be taken if the judgement is just against one person in NC. 

Edited by Klesko
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