Attachment

AAA

DEFINITION of 'Attachment'

A legal term referring to the action of seizing property in anticipation of a favorable ruling for a plaintiff who claims to be owed money by the defendant.

INVESTOPEDIA EXPLAINS 'Attachment'

This is a preliminary procedure, meaning that property is seized before a final ruling is delivered. The seizure may prove unwarranted if the court rules in favor of the defendant.

Often real estate, vehicles and bank accounts are seized under these circumstances. A judge will seize such property when there is a good chance that the plaintiff will win the case and a high probability that the defendant will flee and not pay a court ordered settlement. However, if the attachment proves to have been unnecessary, the court must pay the defendant a bond to cover any damages the seizure caused.

RELATED TERMS
  1. Judgment

    A court order to the loser of a lawsuit to pay the winner a specified ...
  2. Writ

    A legal document written by a judge or other body with administrative ...
  3. Treble Damages

    A law that permits a court to triple the amount of damages awarded ...
  4. Punitive Damages

    Legal recompense that is levied as punishment for a wrong or ...
  5. Licensed For Reinsurance Only

    A license that allows a company to engage in services related ...
  6. Plant Patent

    An intellectual property right that protects a new and unique ...
Related Articles
  1. How to Register Your Trademark
    Investing

    How to Register Your Trademark

  2. Filing A Patent
    Investing

    Filing A Patent

  3. Patents, Trademarks and Copyrights: ...
    Investing

    Patents, Trademarks and Copyrights: ...

  4. Protecting Your Idea: Should You Patent ...
    Investing

    Protecting Your Idea: Should You Patent ...

Hot Definitions
  1. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  2. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  3. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  4. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  5. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
  6. Parity Price

    When the price of an asset is directly linked to another price. Examples of parity price are: 1. Convertibles - the price ...
Trading Center