Action for Poinding is a legal term used in Scotland to refer to a legal process initiated by a creditor to seize and sell the movable property of a debtor in order to recover a debt owed. This action allows the creditor to obtain a court order, known as a poinding order, which authorizes the seizure of the debtor’s assets. The assets can include personal belongings, vehicles, or any other movable property that can be sold to satisfy the debt. The proceeds from the sale are then used to repay the creditor. Action for Poinding is typically used as a last resort when other debt recovery methods have failed.
Action for poinding is a legal process in Scotland where a creditor can obtain a court order to seize and sell the debtor’s moveable property in order to satisfy a debt. The process involves obtaining a warrant from the court, which allows the creditor to instruct a sheriff officer to seize the debtor’s assets. The proceeds from the sale of the assets are then used to pay off the debt. This process is often used as a last resort when other attempts to recover the debt have been unsuccessful.
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This glossary post was last updated: 29th March 2024.
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