In Scotland, poinding is a legal procedure that allows a creditor to seize the movable assets of a debtor in order to satisfy a debt. This action requires court approval and serves as a means for creditors to recover their funds when the debtor is incapable or unwilling to make payment.
Poinding is a term used in Scottish law to describe the action of a creditor seizing a debtor’s physical movable property in order to repay a debt. For instance, in Example 1, John’s landlord obtained a court order for poinding after he failed to pay his rent on time. As a result, the landlord took possession of John’s television, laptop, and other movable belongings to settle the debt. Similarly, in Example 2, Mary’s friend obtained a court order for poinding when she couldn’t repay a debt of £500. Consequently, the friend seized Mary’s car, which was valued at £500, to satisfy the debt. These examples demonstrate how poinding is a legal process employed by creditors to recover debts from debtors. In both cases, the creditors obtained a court order for poinding and proceeded to seize the debtors’ movable property as a means of repaying the debt. This practice is commonly utilised in Scotland to enforce judgements against debtors who neglect to fulfil their financial obligations.
Poinding is a legal process in Scotland where a creditor seizes and sells a debtor’s property to recover a debt.
Only a creditor who has obtained a court order or decree can initiate poinding.
Almost any type of property can be poinded, including land, buildings, vehicles, and personal belongings.
Yes, a debtor can challenge a poinding by applying to the court for a suspension or recall of the warrant.
The proceeds of a poinding sale are used to pay off the debt owed to the creditor, with any remaining funds returned to the debtor.
It is possible to stop a poinding if the debtor pays off the debt in full or agrees to a repayment plan with the creditor.
The length of a poinding process can vary depending on the complexity of the case, but it typically takes several weeks to complete.
Yes, a poinding can be carried out on a jointly owned property, but the proceeds of the sale will be divided between the owners according to their share of ownership.
Yes, a poinding can be carried out on a property that is subject to a mortgage, but the mortgage lender will have priority over the creditor in terms of receiving payment from the sale proceeds.
The consequences of a poinding can be severe for the debtor, as they may lose their property and face additional costs and legal fees. It can also have a negative impact on their credit rating.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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