Judgment Ordered - Can I Lose My Car?
Date: Wed, 07/01/2009 - 06:32
Goods and chattels, shares of stock or interests in any corporat
Goods and chattels, shares of stock or interests in any corporation and personal property of every kind, not exceeding in
value, exclusive of wearing apparel, $1,000.00, and all wearing apparel generally are reserved for a judgment debtor's family use before and after death, and are not subject to execution. (Sec. 2A:17-19.) Household goods and furniture not exceeding $1,000.00 in value of a person shall also be exempt from attachment, except for a debt incurred in the purchase thereof. (Sec. 2A:26-4.) In addition, disability benefits, sickness insurance policies, workers' compensation benefits, and retirement benefits are generally exempt from execution. (Sec. 17:18-12, 34:15-29, 43:21-15(c), 43:13-9, 37.5.)
The State of New Jersey does not appear to provide a statutory provision for homestead exemption.
If you own the car outright and it is worth more than $1000 then
If you own the car outright and it is worth more than $1000 then it is possible that it would not be exempt.