How To Conduct an Assets Investigation financial articles
August 17, 2022 Financial Portal Free Newsletter Bookmark Financial Portal Advertise Here Submit Your Article Other Financial Articles

Main Menu

Financial Polls
Financial Quotations
Financial Articles (Index)
Financial Articles (Categories)
Bank Directory
Gold Price Change
Silver Price Change
Platinum Price Change
Palladium Price Change
Rhodium Price Change
Copper Price Change
Nickel Price Change
Specialty Metals
Other Metals
Currency Rate Charts
Taxe Rates Worldwide
BTC USD
EUR USD
EUR GBP
EUR CHF
EUR JPY
EUR CAD
EUR AUD
USD EUR
USD GBP
USD CHF
USD JPY
USD CAD
USD AUD
EUR vs. Other Currencies
USD vs. Other Currencies
GBP vs. Other Currencies
AUD vs. Other Currencies
NZD vs. Other Currencies
DOWJONES Index
NASDAQ Index
NYSE Index
NIKKEI Index
FTSE 100 Index
TSX Index
CAC 40 Index
DAX Index
HUI Index
XAU Index
AEX Index
Index Reports
Housing Price Index
Oil Price Charts
Gas Price Charts
Commodity Charts
Meat & Livestock Charts
Softs & Tropicals Charts
Grains Charts
Mortgage Rate Reports
US Interest Rate
World Interest Rate
Inter. Stock Exchanges
NY Stock Exchange
AMEX
Philadelphia Stock Exch.
London Stock Exchange
Euronext Lisbon
Korea Stock Exchange
Deutsche Borse Group
Hong Kong Stock Exch.
Toronto Stock Exch.
Debt Collection Agencies
Insurance Companies in Ireland
Insurance Companies in UK
Insurance Companies in USA
Consulting Companies
Plastics Charts
Trade Organizations
Advertise For Free!
The Financier
Scam Letters
Other Business Resources


How To Conduct an Assets Investigation

Joe Hoover,
Investigative Professionals,
Santa Fe, NM, U.S.A.

howtoinvestigate at yahoo com
http://howtoinvestigate.com

Advertisements:



WHY CONDUCT AN ASSETS SEARCH?

There are clearly situations of a business or personal nature in which it is essential to check for assets. Knowledge of such assets can make a big difference in the establishment of grounds for interpersonal actions or the furthering of certain business relationships.

Entering into a New Business Venture - If one is considering investing in a new business, bringing a new investor into an existing company or contemplating a merger between companies, it is essential to conduct a thorough background check on the individual or corporation. Such a check also includes a comprehensive assets search.

Before Entering into a Lawsuit - Conduct an assets search prior to filing suit against an individual or company to determine what assets are present in the event a judgment is ordered by the court. It is not worth the cost of legal fees to file a suit against a person or company that will be unable to pay a court ordered sum. Determine what assets or property could be attached once a judgment is issued.

Collecting on a Judgment - When the court order a sum of money to be paid as part of a civil action, a judgment is issued, this is simply a court order for the payment of funds. It is rare for the defendant to simply pay the amount ordered on the spot. The judicial system only orders payment. Collection is the responsibility of the plaintiff.

Divorce - The finances involved in a divorce can often become rather complicated. It is not uncommon for a spouse to hide assets that would be open to dispute. An asset search of the party being divorced is very important to be certain that all assets are accounted for.

Child Support/Alimony - Public child support enforcement agencies are ill- equipped to locate parents who evade their child support obligations. In child support cases, once the parent is located, information regarding their wages or any hidden assets should be given to the proper child support enforcement agency that can then facilitate collection.

Contestation of a Will - Quite often personal assets may be hidden and not disclosed in a will. Potential beneficiaries or those entitled to a claim against the estate should search for the possibility of hidden assets.

WHAT ARE ASSETS?

Everything that is owned is potentially an asset. Stocks, bonds, real estate, money in the bank, automobiles, RV's, boats, airplanes and even household furnishings are all considered assets. Personal assets are classified as either being personal property or real property.

Tangible Personal Property - Includes vehicles, equipment, inventory, telephone systems, computers, bank accounts, stocks, bonds and paid insurance policies with cash value. Any items of value that a person or a company buys or comes into possession of constitute a tangible asset.

Intangible Personal Property - This category includes patents, royalty agreements, promissory notes, contracts, accounts receivable, wages or other income.

Real Property - All homes, condominiums, apartment or commercial buildings and land are classed as real property. Only a residence that is protected by a homestead exemption is exempt from being attached. All other real estate is subject to claim through the courts.

HOW TO INITIATE AN ASSETS SEARCH

Initial Phase of Investigation - Before attempting to locate assets through public records, it is essential to have the subject's correct name and address. In some local record searches, the name alone will suffice without the need for an address.

It is vital to find out not only where the individual lives, but also their place of employment, if dealing with an individual.

LOCATING ASSETS

Creditors, investors and government entities have the greatest capability in locating assets, especially in cases where an individual or corporation owes monies that are not being repaid.

National Death Index - The Social Security Administration's Death Index should always be checked to see if, when and where a subject may have died.

Income/Wages - A major asset that can be attached or garnished is a person's wages. In collecting on a judgment, child support payments or divorce.

Defendant's Place of Employment - Professional skip-tracers often conduct surveillance on a subject by discretely following the person to his or her place of employment.

Unearned Income - An important source of revenue and includes money that comes from rental property, dividends or interest on stocks or bonds.

Subpoena of Business Records - If it becomes necessary to use the courts to obtain information, a Business Records Subpoena will reveal payroll checks that have been cashed.

HIDDEN ASSETS

People hide assets for a variety of reasons that range from personal to business in nature, but essentially they have property or money that they do not want discovered. Hiding of assets is not always a sign of criminal intent, but just as often it shows a moral or ethical failing in a subject's character: They feel the need to hide all or a portion of their wealth from scrutiny.

CHECKING PUBLIC RECORDS

Public records available in city halls, county courthouses, and at state repositories, contain valuable information that is essentially public information available to all who inquire.

Local Level Searches - Always start a search at the city or county level where most documents regarding real property, corporate data, UCC filings, divorce and community property proceedings as well as probate and motor vehicle information are to be found. Within these records are descriptions of real property; the make, model and license numbers of vehicles.

Search Jurisdictions - More than 4,300 jurisdictions in the United States store records that can be useful when seeking to locate assets. Most of these jurisdictions are at the municipal and county level, and each sets its own rules governing public access. These are the records that prove to be the initial basis for any asset search.

Check:

- County Assessors Office
- Real property valuation records
- County Records Office
- Property records and deeds
- County Court Records
- Bankruptcy, liens, judgments, business licensing
- Secretary of State's Office
- Corporation records, UCC filings
- State Motor Vehicle Division
- Motor vehicle information
- State Vital Statistics Office
- Vital statistics, probate records, divorce proceedings records

SEARCH PARAMETERS

Real Property - Best documented of all assets is real property. Records are kept at the county level at the County Recorder's Office or an office devoted to handling the registration of deeds.

Look for quit claim deeds, as these are often filed when a piece of property is transferred to a family member or friend to be hidden.

Market value of real property is not easily determined from tax assessments or mortgage balances. Consult a real estate broker will help to determine the actual value of property in question.

Motor Vehicles - The Department of Motor Vehicles will provide information regarding ownership, normally charging a fee for this data.

Boats - In each state, the natural resources department will have information regarding boats or other water-operated vessels that are owned by individuals or companies.

Aircraft - The registration of aircraft is made through the Federal Aviation Administration. This information is similar in nature to that of motor vehicles.

Corporate Property - Corporations, unlike individuals, have no property exemptions with regard to seizure for payment of debt. Information regarding the corporation's operations and personnel is available from the Secretary of State's office in all states.

THE IMPORTANCE OF UNIFORM COMMERCIAL CODE (UCC) FILINGS

The law requires that a financial statement be filed whenever transactions take place that involve the use of personal property as collateral for a loan or lease. There is much valuable information in UCC filings.

More than 8 million UCC filings are completed each year. Four million parcels of real property are transferred or are used for collateral. Millions of parcels of commercial real estate are traded or sold each year.

Always begin a search of UCC filings in the county where the subject in question resides. These records are indexed by the name of the debtor, and they also list the names of secured parties with regard to the debt.

Banks, leasing companies or individuals who have financially backed a business enterprise are excellent sources of information.

UCC filings remain active for a minimum of five years, but they can be extended. The filing in question may include a copy of a loan application from the secured party or a copy of the loan check made out to the debtor. Payroll checks, stock dividend checks, rental income checks and other sources of personal revenue may turn up.

LOCATING BANK ACCOUNTS

Many people of means have more than one bank account, insurance policies, brokerage accounts or safety deposit boxes. An individual tax return is a good source of information regarding any type of account that pays interest. A subpoena is required to retrieve tax returns.

A bank account is highly liquid and is the easiest asset to attach. Question: Does the person who owes the money have an account at a particular bank? Answer: There is no central database that maintains bank account numbers.


How to Investigate - Investigative Professionals has been conducting thorough background investigations since 1996 for individuals, employers, property owners and managers, company executives, financial institutions, universities, and law firms. Read Complete Article

Source: http://www.submityourarticle.com

Permalink: http://www.submityourarticle.com/a.php?a=90264


Published - May 2010













Free Newsletter

Subscribe to our free newsletter to receive news and updates from us:

 

Polls at Financial-Portal.com :

Poll #039
Will USA announce default on its debt?

Poll #036
Is there a secret world government?

Poll #034
Do you know that money is a good servant but a bad master?

Poll #033
Is Forex similar to gambling?

Poll #032
What is your occupation?

Poll #031
Do you ever spend money for things you can do without?

Poll #030
Do you know that it is extremely hard for a rich person to enter the Kingdom of God?

Poll #029
Why do you want to earn more money?

Poll #028
Are you determined and working hard to get out of debt?

Poll #026
What is your net yearly income (after taxes), USD?

Poll #024
What percentage of your income goes for paying your debts off?

Poll #023
What percentage of your income do you save?

Poll #021
What is the first step one should make to get out of debt?

Poll #018
Have you noticed that the more you give, the more you get?

Poll #017
What part of your income do you donate to charities?

Poll #016
What part of your income do you donate to Church?

Poll #015
What is the most important thing in getting out of debt?

Poll #014
What country has the healthiest (the most stable, reliable, and promising) economy?

Poll #013
Do you think credit cards are useful or harmful for people (not for bank owners)?

Poll #010
What currency is the strongest - in the long run (for the next 10-30 years)?

Poll #009
Do you have any savings?

Poll #008
Do you have any debts?

Poll #007
What is your religion?

Poll #005
What country are you from?

Poll #004
Do you think cash will eventually be removed from circulation?

Poll #003
What investment brings the highest profits with lowest risk?

Poll #002
What is the most reliable way to save money?

Christianity

Copyright 2004-2022 © by Financial-Portal.com
Legal Disclaimer