Writ of Replevin South Florida
Utilizing Replevin Law to Enforce Creditor Rights on South Florida Debts
Nothing is more frustrating to creditors than situations where they hold all of the right documents regarding a defaulted obligation; however, they cannot immediately reclaim property that rightfully belongs to them due to issues with a debtor in a prior transaction.
Replevin is a lawsuit that enables individuals and creditors to reclaim their personal property taken away unjustly or illegally as they wait for approval from a court of law. Obtaining a writ of replevin in South Florida may additionally grant creditors reimbursement stemming from losses they incur.
Two different types of replevin exist under Florida law. The first is an ordinary replevin action. This method offers recovery of personal property after trial on the merits and entry related to the final judgment.
The other type of replevin law represents a prejudgment writ of replevin. Prejudgment replevin is a summary procedure that enables ex parte recovery of property. The purpose of the latter protects petitioners against various risks such as destruction or concealment of property. As well as jurisdictional removal of the court.
Prejudgment Writ of Replevin
Section 78.068, Florida Statutes outlines: a prejudgment writ of replevin may be issued and the property seized when the nature, amount, and grounds of the claim “clearly appear” from specific facts in a sworn statement by the “petitioner,” i.e., the party who wants to get possession of the property. The court must also find, based on the petition, that the defendant is “engaging in, or about to engage in, conduct that may place the claimed property in danger of destruction, concealment, waste, removal from the state, removal from the jurisdiction of the court, or transfer to an innocent purchaser during the pendency of the action or that the defendant has failed to make payment as agreed.”
Petitioners must post a bond in the amount of twice the value of the goods remaining subject to a writ, or twice the balance due and owed. A judge will determine which value is less. The purpose of petitioners filing the bond is secured payment of damages a defendant may sustain when a writ is wrongfully obtained.
Defendants may release their property by posting a bond within five days after they are served the writ of replevin. The amount they must post reflects 1 ¼ the amount due on the agreement to satisfy any judgment rendered against the defendant.
A second way they may release their property is through filing a motion within ten days after the service of a writ of replevin. Defendants can file this motion within ten days after the writ’s service, and a judge is required to set a motion for an immediate evidentiary hearing.
Replevin Use for Creditors
Creditors can rely on replevin law as an effective tactic when a debtor illegally controls property or deprives a lender of the property usage or value. Even when a case remains pending for trial or further action, a writ of replevin shifts responsibility and stress to a debtor to decide on the issue swiftly and decisively.
Nothing remains more frustrating to creditors than the inability to reclaim their property and assets, forming the foundation of a previous deal. While in most cases, the creditor must wait until a final settlement occurs between parties in a dispute. A writ of replevin is an ideal solution to obtain control in an accelerated time frame. The creditor can secure the writ before attaining the final judgment.
Writ of Replevin in South Florida | The Law Offices of Paul A. Humbert, P.L.
Our firm, the Law Offices of Paul A. Humbert, P.L., remains committed to exhausting every resource and legal avenue possible to exceptionally represent our clients in their legal issues. We assist clients with various debt collection and creditor rights issues, providing optimal solutions to help them streamline the procedures, and optimize returns.
Is a debtor illegally maintaining control over property that rightfully belongs to your company? Is your business awaiting trial, finalized judgment, or other legal action related to a previous deal?
Obtaining a writ of replevin in South Florida may serve as an obscure but effective legal tool for any aggrieved creditor seeking to maintain or reclaim control over their property while awaiting further legal action.
To learn more about how Florida replevin law and a dedicated attorney from our legal firm can help your company reclaim your rightful property, reach out to the Law Offices of Paul A. Humbert, P.L today!