[CLBS] Does a creditor have to domesticate its judgment in ID to levy and account?

[Holly Roark]

Corporate borrower got caught up with hard money lender in NY. As part of
the loan paperwork, debtor signed a confession of judgment. Debtor
defaulted. Judgment entered in NY. Bank accounts in ID levied. I cannot find
a domesticated case in ID for this. Is the bank wrong in seizing the funds
based on a NY confession of judgment that has not been domesticated? The
lender does have a UCC-1 filed in ID so arguably does have a lien on the
proceeds. 

 

Best regards,

HOLLY ROARK

Attorney at Law 

Certified Bankruptcy Specialist -

By the State Bar of California Board of Legal Specialization

 

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