James, I have never seen a home, primary or vacation, ordered sold so I don't think there's any legal reason it can't be done, just that its not. Although now that you mention it I recall that taking someone's home in Florida is damn near impossible, when Home State Savings and Loan crashed Marvin Warner claimed his million dollar horse farm there was his primary residence and got to keep it (this was the 80s, a million dollar home was a big deal back then. In fact, it seems incredible now that Home State, a failure that amounted to just $140 million in losses almost caused the collapse of the entire state chartered Savings and Loan industry, how quaint. Today thats a middling sized ponzi scheme on moneymakergroup)JamesVincent wrote:
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As far as I'm aware a judge will not sign off to seize someone's primary residence unless that person is liable both criminally and civilly. Things like boats, second homes, investments, vehicles (maybe, but again not if it's the only vehicle), basically things not essential for living may be up for seizure. And, again, for the receiver to get that far into it would require a great deal of money from where ever they are getting paid from and it may very well not be worth the hassle.
Anyhow, my point, aside from a possible homestead exemption notwithstanding, is that anything is possibly subject to seizure, but the theory is not the same as the reality.
I will point out that Dustin Fennel, who I mentioned somewhere as having been a winner of over half a million dollars in Crusin88 and CEP I think (I get them confused after the years) did spend $375k on a house that was lien free when the receiver went after him, and the receiver settled with him for $8,000 saying that was a reasonable settlement considering his overall financial condition. I remember screaming at the screen when I read it and thinking I didn't care if he was homeless he should have to pay more than eight grand of the half million he stole. Dustin was not just a lucky early investor, he was actively involved in running the scam and the fictional internal payment processor. One of the great injustices that broke me of my illusions....