Attachment is a legal process by which a creditor can seize and take possession of a debtor’s property to satisfy a debt. It is a remedy available to creditors when the debtor fails to pay their debts or fulfil their obligations. The attachment process typically involves obtaining a court order or writ of attachment, which authorizes the creditor to seize specific assets owned by the debtor. The seized property is then held by the court or a designated officer until the debt is repaid or a judgement is obtained. Attachment laws and procedures may vary depending on the jurisdiction, but generally, they aim to protect the rights of both the creditor and the debtor.
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This glossary post was last updated: 30th March 2024.
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