Full question:
I have a court ordered judgement on a loan for money that my x-husband borrowed from me when we were married. He wants to sell our jointly owned business and after paying off what the business owes, there will not be enough money to pay me in full. Because the court ordered this money be paid back to me, does he still owe the remaining money after the business is sold? Can I put a lien on the business and hold up the sale of the business? Could I use the lien to force him to sign papers that he will guarantee to pay me the remaining amount on the loan.
- Category: Debts and Credit
- Date:
- State: California
Answer:
If the Judgment provides that he pay independent of the business then yes if it is not paid in full it would not be satisfied. As to selling the jointly owned business, that would be a decision for you and him. If the price is fair and you want to sell to get part of your money do so. If not, then you would need to know what happens to the business if it is not sold now. Therefore, your questions about stopping the sale of the business are decisions you need to make. A Judgment can be executed on any non-exempt property of the Defendant. If the business is a separate business like a Corporation or LLC then you could execute on his interest in the business not not the business assets since the Judgment is against him not the business.This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
