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We have a 4 person joint business account @ Wells. 1 person is expecting a judgement
Oregon
Can a creditor levy a joint business account if only one person has a judgement against them? The person who will have the judgement against them is listed as '%25 owner' on bank acct. documents. Our lawyer said to find out how we are titled on the account so we can see if the account is fair game for creditor. Can we remove this person from account? |
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Is the business incorporated? If so, then the account is business assets not personal assets and not attachable for personal debt. If its not incorporated or some other protected setup, then the title of the account is important. You may be able to remove him but that depends on the business setup. |
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