Creditors' Rights (VA Bar) with Complete Solutions.

Claims Eligible for a Writ of Attachment correct answers Claims regarding: property torts debts, or breaches of contract Proper grounds for a writ of attachment correct answers Defendant is a nonresident, defendant has or is about commit a fraudulent transfer defendant will move property out of the state defendant is concealing property defendant is leaving the state to become domiciled elsewhere Process for Attachment correct answers 1. Move for Writ of Attachment 2. Post a bond (FMV of cash, or two times FMV if property) 3. Judge decides on writ based on reasonable cause standard 4. Attachment by a Sheriff's levy, gives creditor an unconsummated lien 5. File notice lis pendens in Circuit Court to be good against BFP 6. Final Judgment which then consumates the lien back to the time of attachment Process for Sheriff's levy in tangible property correct answers Serve attachment, take possession Process for Sheriff's levy in intangible property correct answers Simply serve attachment Process for Sheriff's levy in real property correct answers Serve attachment and sheriff's return Attaching lien to property held by a third party correct answers Must add them as a defendant What can you not use a Homestead exemption for? correct answers PMSI Spousal and child support obligations Intentional tort claims If it's been waived Or against claims by the IRS What is the Homestead exemption correct answers For everyone covers If under 65 $5,000, If over 65 $10,000 and $5,000 per dependent Exempted from attachment What is covered by the Poor Debtor's Exemption correct answers Clothes up to $1,000 Furnishings up to $5,000 Tools of the trade up to $10,000 Car up to $2,000 Heirlooms up to $5,000 (and note this could mean anything because it is not defined)