For federal prosecutors in Utah, sales of
seized assets like cars are routine, but bitcoin is new territory.
Then, the IRS may
seize assets like a state tax refund.
Not exact matches
Entrepreneurs
like limited liability companies because they protect owners from having their personal
assets seized by creditors of the business.
Yet, even with all increasing red flags that suggest that
assets held within the global banking system could be devalued, frozen, or
seized, or all of the aforementioned, including warnings of possible negative interest rates applied to commercial and corporate bank accounts in the near future from big global banks
like the Royal Bank of Scotland, most of us go about our daily lives without giving a second thought about taking preventive actions to prevent such mind - blowing and negatively impacting life - changing events from happening.
«Under an unconstitutional government, you can just lock up someone just
like that, and
seize all their
assets; but we live in constitutional governance and democracy, and so the law must work.
Your
assets can be
seized and sold to pay off debt, however you may get to keep things
like your personal belongings, your car, and your clothes.
To
seize a physical
asset like a car to sell and satisfy a judgment is another matter.
Though unsecured loans aren't tied to
assets like houses and cars that can be
seized if the loan isn't repaid, they are hardly without risk.
Secured loans are loans that are backed with some sort of collateral
like real estate, equipment, or other valuable business
assets the bank can
seize and sell if the loan is not repaid.
Within the past decade, banking and insurance companies have hired historical legal experts and spent a lot of time litigation over the US Federal Court system's power to issue equitable remedies such as the Mareva injunction and equitable liens to
seize assets in federal litigation; the Alien Torts Act which has been used by international human rights organizations had its breadth restricted by use of 18th century views of the «law of nations» requiring recourse to historic writers
like Hugo Grotius, and even administrative law has come under assault by dissents of Justice Thomas arguing that the «Chevron» doctrine of deference to agency interpretations of their own statutes should be set aside as being incompatible with the understanding of the American separation of powers doctrine as it was understood at the time of the country's founding.