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. 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..
Other articles related to "attachment":
... Attachmentof earnings, also known as garnishment, is a process whereby the creditor attaches money owed to the debtor by the debtor's employer ...
Famous quotes containing the word attachment:
“My attachment has neither the blindness of the beginning, nor the microscopic accuracy of the close of such liaisons.”
—George Gordon Noel Byron (17881824)