Protecting assets against law suits

[yellowyeti]

Hi GUys
I might have someone coming after me for libel .I really have nothing to my name other than my home.I have paid off the house but the bond is still open and the title deeds with the bank so it still technically owns the house?.Can a court attach my property and force the bank to sell it?
If so what is my cheapest option to ensure the house cannot be touched?

Thanks

 

[zerocool2009]

The only way that would happen if you default on your bond, then the bank will attach the property and it will go on an auction (or offers would be considered)

 

[Speedster]

Hi GUys
I might have someone coming after me for libel .I really have nothing to my name other than my home.I have paid off the house but the bond is still open and the title deeds with the bank so it still technically owns the house?.Can a court attach my property and force the bank to sell it?
If so what is my cheapest option to ensure the house cannot be touched?

Thanks

You technically own the house. The bank has no claim to ownership.

Anyway, back to your question. Bank can't sell the house (unless you default). If things go badly in court the court could order the sheriff to sell the house to settle any debt you owe to the claimant.

 

[maxxis]

Not allowed to attach essentials like primary residence.

 

[zerocool2009]

Dont default on the bank (they can do what they want as they own it)

Angry client blasts FNB with banner – Problem Bond | South Africa

problembond.co.za

 

[TheMightyQuinn]

Hi GUys
I might have someone coming after me for libel .I really have nothing to my name other than my home.I have paid off the house but the bond is still open and the title deeds with the bank so it still technically owns the house?.Can a court attach my property and force the bank to sell it?
If so what is my cheapest option to ensure the house cannot be touched?

Thanks

I think you're panicking about nothing.

Libel is very difficult and expensive to prove...AND it is very difficult to attach value of damages IF it ever is proven.

This is not the US, so whomever told you "they'll take you house" during the HOA meeting argument, is talking kak.

 

[zerocool2009]

Actually .... in a HOA meeting if you are in debt, and it goes to court ... and you owe ... the sheriff can attach your house

 

[Alton Turner Blackwood]

If you believe that much that you will lose, why not be a man and go apologise??? Why stress over kak like assets getting attached.

 

[yellowyeti]

If you believe that much that you will lose, why not be a man and go apologise??? Why stress over kak like assets getting attached.

Well the things I said was in defending others who had told me what had been done to them and many have moved away now so I said nothing I don't absolutely believe is true and will not apologize for exposing such a nasty creature.I myself have been on the receiving end of disgusting slander that I can't prove.

 

[yellowyeti]

The only way that would happen if you default on your bond, then the bank will attach the property and it will go on an auction (or offers would be considered)

bond is paid off but not closed. Just not transferred the title deeds.

 

[yellowyeti]

Not allowed to attach essentials like primary residence.

I like the sound of that.Is there a source for this.I imagine it would include my only vehicle?

 

[Tman*]

I wouldn't be too worried about the house being attached just yet

If this person is serious just make sure he/she has your correct domicile (onus is on you) so that when the summons come you can defend yourself. The last thing you want is a default judgment because you didnt attend court, because the summons was delivered to the wrong address

 

[Tman*]

I like the sound of that.Is there a source for this.I imagine it would include my only vehicle?

Your car can be attached, and if you lose the case (and refuse to pay) it will be the 1st thing attached because it can be easily liquidated for cash.

I had an ex associate that this happened too. Sheriff or who ever rocked up at his house, attached the car. He has x amount of weeks to come up with the monies owed or the car would be sold.

(this was years and years after the judgement was obtained - can take very long)

 

[B-1]

Well the things I said was in defending others who had told me what had been done to them and many have moved away now so I said nothing I don't absolutely believe is true and will not apologize for exposing such a nasty creature.I myself have been on the receiving end of disgusting slander that I can't prove.

Pretty sure it wont go that far if the other party did the things you say. Getting those things exposed in a court of law will be far worse for them than you. They are probably just using bully tactics to try and get you out of their way.

 

[Speedster]

bond is paid off but not closed. Just not transferred the title deeds.

There is nothing to transfer. The deed is already in your name. The bank might have the deed in their possession, but your name is on it

 

[Hazy_Living@79]

If you really are concerned, go see a lawyer.

But if you insist on obtaining legal advice from MyBBers, defamation is very difficult to prove in SA. The person claiming defamation has to prove, amongst other things, that your comments have lowered their reputation in the eyes of the community in general. Its not just a "He said this, now I feel kak" situation. There are also several defences, including truth, public interest etc.

 

[rietrot]

Well the things I said was in defending others who had told me what had been done to them and many have moved away now so I said nothing I don't absolutely believe is true and will not apologize for exposing such a nasty creature.I myself have been on the receiving end of disgusting slander that I can't prove.

All this over a verbal argument. Lol noway anything comes of it

 

[rietrot]

There is nothing to transfer. The deed is already in your name. The bank might have the deed in their possession, but your name is on it

Cancel the bond requires attorneys and few thousand rand.

 

[yellowyeti]

I think you're panicking about nothing.

Libel is very difficult and expensive to prove...AND it is very difficult to attach value of damages IF it ever is proven.

This is not the US, so whomever told you "they'll take you house" during the HOA meeting argument, is talking kak.

Well his sons a lawyer and he goes around threatening people with that phrase so it might be cheaper for him but probably still expensive as you said..He told my neighbour his going to contact a lawyer maybe a month back now .I will gladly add slander to the libel at the upcoming SGM.Well slander in his opinion but truth can never be slander only scandalous.

 

[yellowyeti]

All this over a verbal argument. Lol noway anything comes of it

No it was an email and 10 people were cc'd on it.