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need help with bank execution

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zdogy

Junior Member
connecticut
i had a bank execution done to me in my account was workmans compansation checks and rent checks from my tenants are rent checks also called rent royaties exempt from this type of bank execution
 


BL

Senior Member
connecticut
i had a bank execution done to me in my account was workmans compansation checks and rent checks from my tenants are rent checks also called rent royaties exempt from this type of bank execution
I doubt very much if rent payment amounts are exempt .

Since your in the LL business , consult a Lawyer .
 

zdogy

Junior Member
well

wel its not that simple with rent checks they only become income when you have positive cash flow those rent check have to pay the mortgage ,water bill repairs etc i have never had a year where i reported a profit on this building I always report it to the IRS as a loss so its not as simple as a pay check not to mention if i did turn a profit i would still have to pay taxes on the money a pay check has all deductions taken out and you get what they call net pay if you know an attorney anybody please ask for me i got 2 more days to file my exemt form oh yah i did consult an attorney but he only gave me one shot and i forgot this question hes not returning my calls now i need to find another one
RENTAL INCOME is a relitive term it does mean money in your pocket
thanks Dave
 
Last edited:

BL

Senior Member
wel its not that simple with rent checks they only become income when you have positive cash flow those rent check have to pay the mortgage ,water bill repairs etc i have never had a year where i reported a profit on this building I always report it to the IRS as a loss so its not as simple as a pay check not to mention if i did turn a profit i would still have to pay taxes on the money a pay check has all deductions taken out and you get what they call net pay if you know an attorney anybody please ask for me i got 2 more days to file my exemt form oh yah i did consult an attorney but he only gave me one shot and i forgot this question hes not returning my calls now i need to find another one
RENTAL INCOME is a relitive term it does mean money in your pocket
thanks Dave
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Better go retain one quick .
 

JETX

Senior Member
wel its not that simple with rent checks they only become income when you have positive cash flow those rent check have to pay the mortgage ,water bill repairs etc i have never had a year where i reported a profit on this building I always report it to the IRS as a loss so its not as simple as a pay check not to mention if i did turn a profit i would still have to pay taxes on the money a pay check has all deductions taken out and you get what they call net pay if you know an attorney anybody please ask for me i got 2 more days to file my exemt form oh yah i did consult an attorney but he only gave me one shot and i forgot this question hes not returning my calls now i need to find another one
RENTAL INCOME is a relitive term it does mean money in your pocket
thanks Dave
And of course, that is all crap. The minute that 'rent check' hits your bank account it is 'fair game' for seizure and not subject to exemption.
Further, the judgment creditor could file for a 'turnover order' from the court and have the court ORDER your tenant(s) to make their rent payments directly to the court!!
 

zdogy

Junior Member
arrg

nevermind this is my first post in this forum and i was hoping for some intelligent and legal savy people if it doesnt get better i think ill move on to another forum,that would be a sweet move on a small claims settlement take my rent checks your silly this isnt aol dont bother esponding im leaving this joke of a forum
ignorance is bliss but stupidity is forever
 

Dandy Don

Senior Member
Why was the bank execution done?

Consider asking the people who provide you with the rent payments to pay in the form of a money order instead of checks, and then you could cash them in at a check cashing service instead of using a bank account.

Post your question to www.lawguru.com (another free legal advice website) and mention what city/county you live in so you can get professional responses from attorneys who live in your local area.
 

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