Execution
Execution is a post judgment remedy. A writ of execution is a court order directing the sheriff to seize the debtor’s property and authorizing a judicial sale of that property. The proceeds are used to pay the creditor the amount of the final judgment. Any surplus must be paid to the debtor. Certain real and personal properties are exempt from attachment or execution. For example, the law provides for a homestead or family home exemption that allows the debtor to retain his residence up to a specific peso value. When you fail to pay, the creditor may go to court and file a case against you. If he wins and you are unable or unwilling to pay, the judgment creditor can enforce the judgment through a judicial process known as “execution.” A court official will notify you that a judgment is outstanding against you and that if it is not settled, the official will seize and sell your property to pay the judgment.
Tags: Law