Unseizable assets: have you heard of them? This concept relates to the protection afforded to certain assets when it comes to settling debts owed to a debtor. This can be a way to find out which assets are protected in case of debt collection through seizure.

Throughout this article from Advogados em Braga, learn everything about unseizable assets and how assets can be protected in seizure situations. 

What are assets that cannot be seized?

Unseizable assets are assets that cannot be seized or subject to enforcement proceedings. In cases of debt, these assets cannot be taken from their owners, as they are protected in order to guarantee the subsistence of the person who has the debts. 

Unseizable income: what does the law say?

The law establishes limits and rules regarding attachable and non-attachable assets. Non-attachable assets must maintain the debtor's subsistence, their value must correspond to at least one national minimum wage, and essential goods such as clothing and goods essential for the debtor's work should not be seized. 

The applicable legislation is found, above all, in articles 735 to Article 739 of the Code of Civil Procedure.

What assets cannot be seized?

Within the category of unseizable assets, there are several criteria and typologies, such as:

• Assets that serve as tools of the trade, such as machinery or equipment that are crucial to the debtor's professional activity;
• State property, such as monuments;
• Essential goods, such as appliances, clothing, or furniture;
• Pets;
• Assets belonging to third parties that are not included in the debt. 

Are there any assets that are relatively exempt from seizure? Which ones?

There are also assets that can only be seized under certain conditions, such as:

• Salaries, pensions and social benefits, as we saw earlier, are subject to seizure up to certain limits (Article 738 of the Code of Civil Procedure).

• Regarding vehicles used for family transportation, the court may consider whether or not they are subject to seizure, depending on the impact on the family's life.

• Bank accounts with a balance equal to or less than the national minimum wage are generally protected, unless there is a debt to the bank itself.

What are the types of property exempt from seizure?

A unseizability It is not a one-way street, as there are two main types: relative and absolute unseizability.

Relative unseizability occurs when assets cease to be unseizable in certain situations. In the case of absolute unseizability, the assets are protected by law and are never subject to seizure. 

What is the difference between absolute and relative unseizability?

The case of assets that are exempt from seizure with relative exemption refers to those that, under certain circumstances, can be seized, such as:

• Mortgaged properties;
• Goods with high value;
• Assets that are the result of illegal activities.

Regarding assets that are absolutely exempt from seizure, these cannot be seized under any circumstances, and they are:

• Salaries, allowances or other income;
• Family housing;
• Essential goods and personal items;
• Goods that are used as work tools.

What is the maximum amount that can be seized?

Assets that cannot be seized have a maximum and a minimum monetary value. 

The minimum amount is equivalent to one national minimum wage, while the maximum amount corresponds to three national minimum wages. To calculate the amount to be garnished, calculate the net salary and then divide that amount by three.

How can I view seized assets?

In order to view the seized assets, you have two options: consult the finance portal, or the assets in enforcement proceedings available for sale on the portal Faster.

Also on the Citius portal, you can consult the public list of executions, or you can search the municipal council's website, since some municipalities publish the sale of seized assets. 

Can a primary and permanent residence be seized?

The answer is yes, a primary residence can be seized. However, there are rules that must be followed. 

For example, if a person has debts to the State, the house can only be seized. But if the debts are to banks or other similar entities, it can be sold to settle the debt. This debt can be paid in installments by the debtor. 

In other words, a primary residence can be seized, but the debtor can continue to use the property during the seizure process. 

What if there's an improper seizure of assets? Can I contest it?

Yes you can contest an improper seizure. In order to contest the claim, you have several options available to you:

• File an objection to the enforcement proceedings, explaining that the seizure is improper;
• To file an objection to the seizure if the debtor considers the seizure excessive and presents such a claim.

How can a lawyer help in the process of determining which assets can be seized and which cannot be seized?

A lawyer plays a fundamental role in a process involving attachable and non-attachable assets. 

This legal professional is the right person to advise on the steps to take and also to assist in all the more bureaucratic and legal processes. Debt review, debtor defense, or negotiation of agreements are also part of a lawyer's duties in matters of unseizable assets. 

No Lawyers in Braga You have access to qualified lawyers to provide full assistance in proceedings concerning attachable and non-attachable assets. Your rights are the priority in all the work carried out by the professionals at Advogados em Braga. 

Conclusion 

Unseizable assets are assets that are protected from seizures. However, not all assets are completely exempt from seizure; some may have relative exemption, meaning they can be seized in certain situations. In other cases, it may be absolute exemption, where these assets are fully protected. 

Goods that are essential, such as clothing or household appliances, or even goods that are indispensable for the debtor's professional activity, are protected. 

The value of assets to be seized has minimum and maximum limits, with the minimum being equivalent to the national minimum wage and the maximum being similar to three times the national minimum wage.