Can anyone explain this?
Date: Wed, 01/16/2008 - 09:03
Thanks
It appears to me if you were a resident of another state and are
It appears to me if you were a resident of another state and are now a resident of GA your property is exempt from levy in the state of Georgia by the judgement in the other state. I had to read that 5 times.
Yeah, Frog is right on both counts. Kinda gave me a headache, lo
Yeah, Frog is right on both counts. Kinda gave me a headache, lots of repetitive text.
I think it means that: A) if you have been sued and have a judg
I think it means that:
A) if you have been sued and have a judgment against you in another state; and
B) now you live in GA and the creditor wants to register that judgment in the state of GA for enforcement;
C) GA will honor the original states allowances for exemptions, and you can claim both GA exemptions + that state's exemptions.
My Example:
Suppose I get a judgment against me in IL for $5000.
Now suppose I have a car that is paid off and worth about $4000.00. The creditor may want to sieze/levy my car to pay off that judgment. However, IL will let me claim something like $4500 exemption for my primary mode of transportation. So since my exemption is greater than the car is worth, the creditor cannot take my car.
Suppose I move to Georgia. (Now I don't really know what GA laws are), but maybe Georgia only gives me a $1000 exemption in my primary vehicle. Since my car is worth $4000, less $1000 exemption, the creditor can still levy my car in the amount of $3000 and I might have to give it up.
If the creditor follws me to GA and registers that judgment, I think that this article is saying that I can claim both GA exemption ($1000) + IL exemption ($4500) to have a total of $5500 in exemptions for that vehicle. Since those combined exemptions are more than the car is worth, the vehicle is safe from attachment.
I agree with Debtcruncher. For a foreign judgment to be register
I agree with Debtcruncher. For a foreign judgment to be registered in the state,you get both exemptions from other state plus Georgia.