Legal assets

Legal assets – this term is used in the Litigation Procedures, to detail any valuable assets (real estate, vehicles or bank accounts), owned by the judgment debtor, that can be used by the local bailiff/enforcement agent to be taken on a public auction for repaying the judgment creditors.

Another meaning of this term is of a property left by the decedent to pay their debts. Legal assets are divided to personal, real, and equitable assets.

Posted in: L