Friday, January 10, 2014

Can creditors place lien on property under the name of 2 persons but only one of them is the debtor?

Can creditors place lien on property under the name of 2 persons but only one of them is the debtor?
Depending on which country you are relating the question..but generally the rule which most creditors follow is the "joint liability" one..which simply means that the debt is considered as "jointly and severally liability"..and generally most courts will grant the creditor the right to place a charge or lien on the named debtors interest in the property.You can generally challenge this decision in most circumstances..though..with little chance of success
So in a nutshell the answer to your question is YES!.
[Syed Amir]

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