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Enforce Judgement - Tools of Trade
Topic: Enforce Judgement - Tools of Trade
Posted: 01/April/2015 at 16:43
I am a judgement creditor (debt amount is $68000) and I am planning to apply for warrant of execution in Local Court to seize debtor's property to satisfy debt. The debtor owns a vehicle for $50000 which he drives himself.
I have talked to a Bailiff and he is not sure if the he seize the vehicle as it is a tool of trade. In other states of Australia, it is legislation that only those the tools of trade cannot be seized which are under $3500.
Please confirm if this exception is also applied in Northern Territory. Can a property as Vehicle used as tool of trade which is worth around $50000 be seized to satisfy debt?
I will be very thankful for your response.
Edited by oliman - 02/April/2015 at 17:42
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