The government will always be a part of our daily lives. Whether it’s helping us by giving us financial aid, instilling law and order, or even responding to certain types of threats, our government will always try their best to serve the people they are mandated to protect. But even though the government will stick its neck out for common individuals, there will be times that malicious entities will exploit the system.
Some properties will serve as collateral even on a personal level if you plan on entering into a loan with other people. If a debtor won’t be able to pay for the loan they are going for, seizing collateral is one of the best ways to secure a loan.
But there will be times that governments will help implement loan programs for individuals who are working in different types of industries. In the United States, there have been billions of funds in seizures, based on certain studies that have been conducted by government agencies that are often caused by individuals not being able to pay their debts. In fact, the Department Of Justice has accounted for at least half a billion in terms of funds being allegedly diverted from foreign governments into American soil.
Like in the United States, the United Kingdom also has its own laws and specific scenarios that can often lead to property seizures. In most cases, these seizures are often linked to crackdowns in corruption, especially when there is billions worth of GBP in tainted cash. Much of this cash flow will often lead to real estate, expensive cars, and several luxurious products.
But when can a government start seizing property? What are some circumstances that will usually lead to such a situation? We’ll be clearing up any misconceptions that most individuals have regarding such a scenario and look into some details which can lead to this.
What Leads Up to Property Seizure?
There’s really no one single reason that can lead up to civil asset forfeiture. Several reasons can often lead to such a situation. Some of the activities can often lead to property seizure if the accused are found guilty of doing these:
- Aiding criminal organizations and abetting crime — Normally, these properties are being used for money laundering and even obstruction of justice and any form of investigation.
- Conflicts of Interest — In certain cases, private organizations will ask help from the local court in ensuring that internal investigations to certain properties will not be obstructed, and the investigation will go smoothly.
- Tampering of Evidence — In most cases, this is an action taken by an independent individual or organization that will need to collect for debt. Some organizations will also do this to preserve, analyse, and collect data and information.
Property Seizure and Collecting Debt
Normally, an individual will be able to pay off their debt monthly or continuously. However, there will be circumstances that individuals won’t be able to pay off their debt or are simply not willing to pay off their debt. In most cases, property seizure or civil asset forfeiture is the last remaining option for debtors not being able to pay for an outstanding amount of debt.
If this is the case, the other party must follow certain legal procedures before the property can be seized. Seizing certain types of properties or goods will need the following procedures:
- The person must obtain the services of a civil enforcement bailiff — Of course, when you’re seizing a debtor’s property, you will need to at least have some form of law enforcement and muscle to ensure that you have a good amount of security. There will be times that debtors will try to impede the process of the property being seized. Fortunately, there are bailiff services that can help ensure that the seizure process is left unabated and everything goes smoothly.
- The aforementioned civil enforcement agency will need a letter of instruction when the seizure needs to be carried out. It should specify the following information:
- Location of the goods being stored
- When was the loan issued, and how much does the person still owe
- Any information that the agency will request
- These agencies will require a copy of the Writ of Enforcement.
Whether it’s a seizure that’s government-mandated or something related to a more private matter, it’s still important to ensure that such a situation is legitimate in the eyes of the law. Seizing property or goods is not an easy task, and there’s bound to be individuals that will try to stop that from happening. You might want to seek professional help for such a situation.