Preserving 3rd-Party Interests In Forfeited Property
January 5, 2012, 3:15 PM EST
Law360, New York (January 5, 2012, 3:15 PM EST) -- Third-party owners and lien holders risk losing their interests in property to forfeiture in criminal proceedings because the federal government is not required to provide direct written notice of forfeiture. Whether the third party is a co‐owner, a secured creditor, or a purchaser, the property it acquires from, or owns with, an individual that has engaged in criminal activity may be subject to forfeiture.
When a criminal conviction includes an order of forfeiture, the government will quiet title to forfeited property if there are no timely...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.