Author Topic: Bill of Sale  (Read 1005 times)

dragon fire

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Bill of Sale
« on: Feb 13, 2010, 11:39:13 AM »
Hi, has anyone come across protecting your assets through the Bill of Sale, before bailiffs try to take your possessions?


Thanks

bankruptcy.co.uk

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Re: Bill of Sale
« Reply #1 on: Mar 10, 2010, 01:20:19 PM »
A very intelligent question.
 
A bill of sale (as long as you have proof of the transaction so that no judge could quibble that the transaction never took place), would prove that your assets are no longer your own. Therefore any levied goods would be unable to be taken from you as you have a bill of sale.
 
However, since the funds would be placed into your account, they could then apply to freeze your account (unless the money was spent/withdrawn)?
 
My only concern with this would be... If I was a judge I would find it very difficult to believe that someone had purchased your goods 2 days before a bailiff arrived and that they were happy for you to continue using those goods. Would seem very suspect and essentially I would disallow the bill of sale. The only way around this would be for the purchaser to remove the goods... But surely that removes the entire point of using the bill of sale to defend it, as removal of the goods is already an option without the bill of sale.
 
Sorry that this probably was a very circular argument but hopefully you will see my logic.

Best of luck!
 
Raphael Gilbert
Raphael Gilbert
Head of Insolvency Divison www.ban