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Saturday, February 21, 2015

Other Personal Property levy nj

Other Personal Property 
The Special Civil Part Officer executes on other personal property owned by the judgment debtor by making an actual or constructive levy. An actual levy occurs when the Officer physically seizes the property and takes control of it. A constructive levy occurs when the Officer serves the writ of execution on the judgment debtor but decides, with the consent of the judgment creditor or judgment creditor’s attorney and the consent of the judgment debtor, to leave the property in the possession of the judgment debtor until the writ is satisfied by payment or the Officer’s judicial sale of the property. In either event, if the property consists of inventory that cannot be removed immediately from the premises where they are found, the Officer may lock the premises to prevent its removal by the judgment debtor. If the judgment debtor and creditor do not agree to a constructive levy, the Officer can return with a vehicle to remove and then store the inventory, with the judgment creditor or judgment creditor’s attorney’s permission. The cost of removing and storing the inventory is the immediate responsibility of the judgment creditor, who may subsequently be able to recover those costs from the judgment debtor. The judgment creditor or the judgment creditor’s attorney, if they have an attorney, should provide the Special Civil Part Officer with a letter or other document stating that the judgment creditor will hold the Special Civil Part Officer harmless for any damages that may result from the seizure of the judgment debtor’s personal property and that they will be responsible to satisfy registered lienholder’s interests, if any, in the event the proceeds from any subsequent sale do not satisfy the registered lienholder’s lien. At the time of the levy, the Officer shall provide the judgment debtor or custodian of the judgment debtor’s assets with a list of the items seized, appraised in accord with section II(C) of this Appendix and a pre-numbered receipt for any cash that has been 24 

seized. These procedures apply to motor vehicles but additional procedural requirements also apply (see below). 

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