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Attachment is a legal process by which a court of law, at the request of a creditor, designates specific property owned by the debtor to be transferred to the creditor, or sold for the benefit of the creditor.[1] A wide variety of legal mechanisms are employed by debtors to prevent the attachment of their assets. For example, a declaration of bankruptcy will severely limit the ability of creditors to attach the property of the debtor. Many jurisdictions have a homestead exemption or other property exemptions which limit the ability of creditors to attach the debtor's primary residence, vehicle, and/or personal effects.

Where the attachment is against property in the possession of, or owed by, a third party, the process is sometimes known as foreign attachment.[1]

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Bibliography

References

  1. ^ a b [Anon.] (1911)

This article incorporates text from the Encyclopædia Britannica, Eleventh Edition, a publication now in the public domain.


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