Definition of Embargo

A lien is the suspension or retention of any property as a security method to ensure the payment of debts that may have been incurred previously. Garnishments are authorized by a judge or a competent body on a certain date. The value of the seized assets must exceed the amount drawn from the debt at first and the person who must take charge of the debt must also bear by law the costs of the lawsuits and the interest of the delay.

The classification of liens is as follows:

  • Preventive embargo: occurs when an individual or a company is charged in a judicial process and it is desired to ensure compliance with the future judgment, both in the case of non-payment of the debt or the delay in compliance with it.
  • Executive seizure: takes place after determining the judicial sentence of the obligation. The retention of the assets of the obligee is ordered by a judge in order to pay the debt with their value.

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