What is levy of execution

IC Debt or thing in action; assignment and delivery to purchaser Sec. The sheriff making the sale of any debt or thing in action shall assign and deliver the debt or thing in action to the purchaser.

The assignment has the same effect as if made by the execution defendant at the time of making the levy. IC Actions involving assignments; pleading Sec. In any action in which the assignment is declared upon or stated, it is not necessary to plead or prove any judgment or execution, by virtue of which the sale was made, nor to prove the execution of the assignment, unless the assignment is denied under oath.

IC Designated and undesignated property Sec. IC Personalty and real estate; order of levy and sale Sec. In all cases where the personal estate of the debtor, subject to execution, is insufficient to satisfy the execution, the real estate is exempt from levy and sale until the personal estate is levied upon and sold, unless the debtor directs otherwise.

The principal messuage, lands, or tenements of the debtor, or upon which the debtor may reside, shall not be levied upon unless other property cannot be found sufficient to satisfy the execution in the hands of the sheriff. Only a creditor with an unpaid, unsecured debt needs to resort to execution.

A secured creditor can, in most cases that don't include mortgages , take or foreclose on the collateral without going to court or using the sheriff. The 1 st step in execution is obtaining a money judgment from a court.

Then the judgment creditor would obtain either a writ of execution or a certified copy of the judgment from the court clerk, then deliver it to the sheriff. However, there is generally a 10 — 30 day waiting period between the entry of the judgment and the issuance of the writ so that the debtor has a chance to pay the debt. If a debt resulted because of missed payments that are required of the debtor, such as those for child support, then execution and levy can only be for the missed payments.

The writ of execution is an order for the sheriff to seize the debtor's nonexempt property and take into legal custody in custodia legis — what is otherwise known as levy. The writ is only valid for a limited time determined by state law, usually 60 to days. The date that the writ expires is the return date — afterward, the judgment creditor would need to get another writ. A money judgment has only a finite lifetime, which typically ranges from 5 to 10 years, depending on state law.

Afterwards, the judgment become dormant and the judgment creditor can no longer use the judgment to get a writ of execution which is necessary for execution and levy.

A dormant judgment can become legally effective again through revival or renewal. The procedure of revival is derived from the common law writ of scire facia. States have different procedures for revival, including limits on the duration of the renewed period and on how often a judgment can be revived. However, a revived judgment may lose its priority against competing claims. A judgment creditor can obtain a writ of execution as many times as it wants as long as the judgment is not dormant and the creditor does not have any outstanding writs.

After the judgment creditor receives the writ of execution from the court clerk, he delivers it to the sheriff. If your mail is forwarded, keep in mind there will be a delay in service. For more detail see attached notice. CT Corp move Flyer. Previous Form - Next Form.

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