My question involves judgment recovery in the State of: Florida
A friend asked me to post this.
A creditor takes the stock in his closed corporation and the sheriff auctions it off. It has no real value to anyone else, and the creditor buys it back. After buying it at a Sheriff's auction can that creditor seize the same stock again in the future, or can another creditor come along and seize the property that was already seized, auctioned off and bought back?
Second question. If the creditor selects some share certificates to keep under his 5k Florida exemptions, how is the value figured for that purpose? There is no real income, but there is some personal property. Is it figured on book value, par value or some other basis?
Personally have never read any case law on anything like this or any commentary.