[WSBARP] Execution on judgement
Robert Pampell
rpampell at swcp.com
Mon Nov 6 22:42:59 PST 2017
No. See RCW Sec. 25.15.256, esp. subsection (5). Known as "charging order
exclusivity," this subsection was added in the amendments effective 1/1/16.
While you are at it, your client should be advised, as should all LLC
clients should be, that single member LLCs "make lousy asset protection
vehicles", to quote a prominent national creditor rights/asset protection
expert. He was addressing the typical veil-piercing and alter ego flavor of
asset protection, rather than the so-called "reverse veil-piercing" variety
addressed by the section cited above.
Robert Pampell, Attorney
21st Century Law Office (r)
19125 Northcreek Parkway, Suite 120
Bothell, WA 98011
voice: 425-329-2629
fax: 877-640-6403
cell: 425-501-4784
email: <mailto:rpampell at swcp.com> rpampell at swcp.com
<http://www.linkedin.com/in/robertpampell>
http://www.linkedin.com/in/robertpampell
<http://www.21stlawoffice.com/> www.21stLawOffice.com
From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Craig Gourley
Sent: Monday, November 06, 2017 3:41 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Execution on judgement
Listmates,
Client has a judgment against him personally and wants to acquire real
property in a single member LLC. I know the judgment does not attach
directly to the real property. My recollection is that the creditor can
obtain a charging order against the LLC and any distributions to the member
would go to the judgment creditor. Can the judgment creditor execute
against the personal property interest of the " membership" thereby taking
ownership of the LLC and the property it contains? Thanks in advance for
your insight.
Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291
360.568.5065
360.568.8092 fax
Craig at glgmail.com <mailto:Craig at glgmail.com>
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