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Tangible Asset Searches
This is the simplest form of
research into belongings and chattels.
Your investment is with the intent to find out
the following about the subject’s resources and
obligations:
Assets
Corporations
– Is the subject a director, manager or officer
of an incorporated entity? Perhaps an LLC or
sub-chapter S corporation or two have been established
without your knowledge.
Real property
– What real estate does the subject really own?
This could be a house, condominium, retail
outlet, commercial building or even a vacant
lot. Once a judgment is in place, a lien can
be placed on any of these properties.
Vehicles, Vessels, and Aircraft
– Does the subject own a nice car or maybe even
a boat? This type of check will reveal all the
identifying information about the asset, such as
the vehicle identification number (VIN, tag and
the sales price. This information can be
used to repossess property, when allowable
under the law.
There are a variety of possible tangible asset searches. Contact one of our asset search specialists for more information...
Liabilities
Bankruptcies
– It’s important to know what liabilities a
subject might have, especially if they have
declared bankruptcy. There are certain
protections under that law that are afforded to
persons who have filed for various types of
bankruptcy. The most common are Chapters 7
(liquidation), 11 (re-organization) and 13
(repayment).
Tax Liens
– Another item to take into account is if the
subject has tax liens. These can be levied by a
number of municipal bodies: city, county, state
or federal. The amounts can range from less
than $100 to into the millions. Depending on
the purpose of your inquiry, a tax lien may
have an impact on your decision making process.
If you are conducting due diligence and find
liens in the subject’s history, you may want to
rethink an investment or merger. If someone
owes you money, you may have to figuratively
‘fall in line’ behind those who have already
attached liens on the subject’s property.
Judgements
– A judgement is a formal decision given by a
court. Following a proceeding, the court may
issue a decree that stipulates a variety of
measures. Commonly, a judge will render a
verdict that one party owes the other a sum of
money. Why do you need to know about this?
If you are considering loaning money to the
subject, it might give you cause to reflect when
you find out that they already have judgments
against them on file from other creditors.
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