Attachment of share in movables
Full Text
Where the property to be attached consists of the share or interest of the judgment-debtor in movable property belonging to him and another as co-owners, the attachment shall be made by a notice to the judgment-debtor prohibiting him from transferring the share or interest or charging it in any way.
Plain English Summary
Regulates attachment of the debtor's undivided share in co-owned movable property through a prohibitory notice restraining transfer or hypothecation without disturbing physical possession of innocent co-owners.
Key Legal Elements
- Co-owned Movable Property: Applicable to joint undivided chattels, vehicles, or livestock.
- Prohibitory Notice Mechanism: Restrains debtor from alienating or creating encumbrances.
- Protection of Co-owners: Prevents seizure of the physical article to protect co-owners' rights.
Practical Note
Co-owned Movables Strategy: Physical seizure under Rule 43 is impermissible where the property is held in co-ownership with a non-party. The only permissible mode is serving a prohibitory notice under Rule 47, followed by a court sale of the debtor's undivided share.
हिंदी पाठ
जहां कुर्क की जाने वाली संपत्ति सह-स्वामियों (Co-owners) के रूप में निर्णय-ऋणी और किसी अन्य व्यक्ति की जंगम संपत्ति में निर्णय-ऋणी का अंश या हित है, वहां कुर्की निर्णय-ऋणी को उस अंश या हित को किसी भी प्रकार से अंतरित करने या प्रभारित करने से प्रतिषिद्ध करने वाली सूचना द्वारा की जाएगी।