A turnover order is a directive issued by a court instructing an individual to transfer specific property to another person. This typically occurs when someone has outstanding debts and the court intends for them to surrender assets that are difficult to seize, such as stocks or owed money. Essentially, the court is compelling the individual to hand over the property to the creditor.
A turnover order is a written command or instruction issued by a court or judge to a judgement debtor, requiring them to surrender specific property to a judgement creditor or to the sheriff or constable acting on behalf of the creditor. This order is typically used for property that is challenging to acquire through regular judgement-collection processes, such as share certificates and accounts receivable. For instance, if someone owes money to another person and refuses to pay, the creditor can seek a turnover order from the court. This order compels the debtor to surrender certain assets, like bank accounts or stocks, to the creditor or the sheriff. The sheriff will then sell the property and utilise the proceeds to settle the debt. Essentially, a turnover order is a legal mechanism that enables a creditor to collect a debt by seizing the debtor’s property. It is typically pursued after exhausting other collection methods like wage garnishment or property liens. The turnover order is particularly advantageous as it allows the creditor to seize assets that may not be easily accessible through alternative means.
A turnover order is a legal document issued by a court that requires a party to turn over specific assets or property to another party.
A turnover order can be issued when a party has failed to comply with a court judgment or order, or when there is evidence that the party is wrongfully withholding assets or property.
Any party who is entitled to receive assets or property from another party can request a turnover order from the court.
A turnover order can apply to various types of assets or property, including money, real estate, vehicles, bank accounts, stocks, and other valuable items.
To enforce a turnover order, you can seek assistance from law enforcement or hire a sheriff or marshal to seize the assets or property specified in the order.
Yes, a party subject to a turnover order can file an appeal to challenge the order. However, it is important to consult with an attorney to understand the specific requirements and deadlines for filing an appeal.
If a party fails to comply with a turnover order, they may be held in contempt of court, which can result in fines, imprisonment, or other penalties.
Yes, a turnover order can be issued against a third party if they are in possession of assets or property that rightfully belongs to another party.
Yes, a turnover order can be issued in a criminal case to require a defendant to turn over assets or property that may be used as evidence or subject to forfeiture.
In certain circumstances, a turnover order can be modified or canceled if there is a valid reason or change in circumstances. However, it is important to seek legal advice and obtain court approval before making any changes to a turnover order.
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: 16th April 2024.
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