Many business owners find that once they start one business, it opens the door to many other business opportunities within that market. For example, a successful residential construction company might find that it would be profitable to open their own real estate agency. They already know the real estate construction business inside and out, so
The internet provides us with access to infinite information and helps us find answers in nearly every aspect of life. The second our pet starts acting weird, our car engine light goes on, or the toilet doesn’t flush properly, we immediately use Google to find the easy solution to our problem. Sometimes the very first…
The reporting requirements for Pennsylvania registered businesses and foreign associations are about to change in 2024 with the enactment of Act 122 of 2022 (“the Act”). According to the Act, business entities will now be required to file an annual report with the Department of State. Prior to this change, businesses were only required to…
For most people, it can be very scary when a lawsuit is filed against them. When someone finds out they are being sued, they may not know exactly what that means or what will happen if a judgment is entered against them, especially one directing them to pay money.
One of the first questions that might pop into their mind is whether the person or business that filed a suit against them (legally known as the “plaintiff”) can take their house if they win. This is especially concerning since, for many Pennsylvanians, their home is the most valuable and important asset that they own.
This article will explain what happens when a judgment is entered against a defendant (in other words, the person being sued) and how that may affect the defendant’s ownership interest in their home.
What does it mean when a judgment is entered against the defendant?
A judgment is an award by the court granting a plaintiff some sort of relief against a defendant. A judgment is typically a court order directing a defendant to pay a plaintiff a sum of money.
Before a plaintiff can even attempt to collect from a defendant’s assets, they must first obtain a judgment against the defendant. Without a judgment, a plaintiff does not have the authority to take any property owned by the defendant. The plaintiff must win the lawsuit first.
In general, a plaintiff can only obtain a judgment against a defendant after one of the following things occurs:
- a plaintiff wins the lawsuit after a trial;
- the parties agree to a settlement that will be entered as a final judgment; or
- the defendant fails to respond to the lawsuit and a default judgment is entered against them.
When a judgment is entered for any of the reasons listed above, it gives the plaintiff the right to collect the amount of money ordered in the judgment.
Once a judgment is entered, the parties often negotiate a process and timeline for the defendant to settle the judgment through direct payment. In some cases, the defendant can’t or won’t agree to pay the judgment and the plaintiff has to take additional steps to get their money. This process is called “executing” the judgment.
A judgment may be executed in a variety of ways including seizing assets held in bank accounts and, in some cases, levying and selling the defendant’s real property, including their home.
Not All Real Estate Is Subject to Execution…
Continue Reading A Judgment Has Been Entered Against Me. Is My House Safe From Judgment Creditors?
As a litigation attorney, I meet with many clients seeking advice because their new home construction or renovation project was done poorly. Whether these homeowners are dealing with big or small construction companies, the same problems arise when it comes to construction defects. Often, the contractor’s work was subpar, the homeowner spent thousands of dollars…
Does your business need to file a decennial report? If you have received a postcard from the Pennsylvania Department of State Revenue Department OR have not made a new or amended filing with the Bureau of Corporations in Pennsylvania, this is your reminder to do your decennial report filing by December 31, 2021.
What is a Decennial Filing?
A decennial filing is a report that must be filed with the Bureau of Corporations and Charitable Organizations of Pennsylvania by each domestic or foreign business entity every ten years. The purpose of the decennial is to identify business names and marks that are no longer being used. Those not in use will be reissued and placed back into the stream of commerce.
The Bureau should have mailed you a notice to make a decennial filing at the registered office address of your entity. However, if your business did not receive this notice, it does not mean your business is exempt.
Continue Reading Don’t Lose Your Name: Filing a Decennial Report