Writ of Garnishment - Posted by dewayne

import · December 18, 2009, 9:46am

Posted by Jimmy on January 02, 2010 at 07:05:31:

the HOA has a judgment against the individual. The individual may own certain assets that can be attached in order to satisfy the judgment. Q: What assets? A: It depends on the state.

The individuals’s membership interest in the LLC is one asset that likely can be attached by the HOA. Now state law enters the picture. Some states provide an exclusive remedy of a charging order on seized LLC or LP interests. Nevada is such a state.If you are situated in such a state, the HOA may not grab LLC assets. They can grab any distributions that would have been coming to the LLC interest.

Other states do not restrict creditors to a charging order.

As far as I can see from the facts, it appears improper that the HOA was permitted to grab an LLC bank account. The LLC is not the debtor here. and unless I’m missing something, the HOA has not perfected its seizure of the membeship interest.

Hire debtors counsel and see what your remedies are…both against the HOA and the bank

import · December 18, 2009, 9:46am

Writ of Garnishment - Posted by dewayne

Posted by dewayne on December 18, 2009 at 10:46:08:

Can the HOA creditor/atty exercise a bank writ on a “LLC” checking account? for a judgment that was granted against a individual?
The LLC was not any part of purchase, the ownership was in a individual name, soley.

import · December 24, 2009, 6:15pm

An LLC is an asset of its owner - Posted by Chi Ming

Posted by Chi Ming on December 24, 2009 at 19:15:45:

So the answer is yes - if the owner of the LLC is the same as the owner of the property where the judgment was obtained.