Legal Question in Credit and Debt Law in Canada
Can a spouse's assets be seized when a collections judgement is issued against t
I have had the judment issued against me and am concerned for my wife's assets..
1 Answer from Attorneys
Re: Can a spouse's assets be seized when a collections judgement is issued again
This answer presumes that a lawsuit was instituted and a judgment of a court obtained; if one was not and the seizure is under some other procedure, then this answer does not apply. In British Columbia, a spouses' assets can only be seized on a judgment if the spouse was sued and a judgment obtained against the spouse. The situation is different if the seizure was not made under a court order, but instead was made under a chatttel mortgage or other form of agreement to which the spouse is a party. If the assets were transferred from the debtor spouse to the other spouse within 5 years, there is a presumption that the transfer was made with the intention of defeating creditors, and is fraudulent under British Columbia law. The law varies in different provinces and this answer is specific to British Columbia only and can not be relied on if teh debt or the debtor or the creditor or any of them are in provinces other than British Columbia