A guy owed my company money and I got a judgment against him in Ottawa County, Court of Common Pleas. I was able to file a certificate of judgment lien against his home. Unfortunately I know there is a big mortgage ahead of me. He also doesn't have much of a job. But I know he owns stock in a company and I know there are some people who owe him money.
What are the legal forms to try and collect here? I did some digging and it looks like there is something called a writ of execution and and writ garnishment. How do I go about getting these things executed to get them sent to the company that issues the stock and sent to the people who ow him money?
A writ o execution is used to direct an officer to "levy" on goods and other property of a debtor, meaning the officer will collect that property and sell it at a court ordered sale to provide funds to satisfy the debt.
A writ of garnishment is issued to third parties who either are in possession of property of the debtor or owe the debtor a sum of money. The writ of garnishment orders those third parties to turn over that property or transfer that money in satisfaction of the debt.
The Ohio Revised Code (2716; 2329; and related sections) provides the proper procedure necessary to issue a writ of execution or a writ of garnishment.
Generally, an affidavit or praecipe will have to be filed with the proper court. Notice will need given to the proper parties. A hearing may be required. Once a writ is issued, it then falls on the officer (execution) to levy on the property or the third party (garnishment) to turnover the property, unless such action is challenged by the debtor, third party, or the officer is unable to locate or levy on property of the debtor.
Disclaimer: Nothing in this answer should be construed as legal advice, nor as creating an attorney-client relatioship. This answer is provided for informational purposes only.
To simplify the answer already given a bit...you need to find out the nature of the stock you mentioned. Is it held by a private corporation, or maybe through an investment firm? If it is, you can try and attach it through there, OR levy (take possession of) it and sell it yourself. However, this "stock" may be held in some account which is exempt from attachment. These are pretty complex issues and procedures. I would recommend obtaining legal counsel to assist you with it. It would be very easy to do something wrong here in doing this on your own, and you'll be back to square one (at best). Good luck!