There are three types of Executions:
1. Property Execution: issues against personal property of any nature belonging to the debtor, including bank accounts, cars, shares of stock, equipment, etc.
2. Real Property Execution: issues against real estate owned by the debtor, permitting the sale of the real estate at auction.
3. Income Execution: issues against a debtor's wages, permitting the garnishment of the debtor's salary or compensation.
Each county of New York State has a Sheriff, who performs the above functions. Within the City of New York, a City Marshal may be selected by the creditor in lieu of a Sheriff (except for real estate sales). Some creditors prefer using a City Marshal instead of a Sheriff because City Marshals are not City employees, but rather work strictly upon a percentage of the amount collected. The perception is that City Marshals have more incentive to work harder because of this fee structure.
According to statute, the Sheriff/Marshal is entitled to collect a levy fee and "poundage" of 5% from the debtor on top of the Judgment amount as a fee.
In some situations, the Sheriff cannot levy upon property, where there may be title issues relating to the ownership of the property, at which time further legal proceedings may be necessary.
— by Richard A. Klass, Esq.
copyr. 2014 Richard A. Klass, Esq.
The firm's website: www.CourtStreetLaw.com
Richard A. Klass, Esq., maintains a law firm engaged in civil litigation in Brooklyn Heights, New York.
He may be reached at (718) COURT-ST or e-ml to RichKlass@courtstreetlaw.com with any questions.
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