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Citizens v. Ouhrabka: Difference between revisions
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*Ouhrabka's house with his wife was worth $1/4 million at the time | *Ouhrabka's house with his wife was worth $1/4 million at the time | ||
*The jewelry store was placed into receivership. | *The jewelry store was placed into receivership. | ||
|procedural_history=* Citizens Bank sued Ouhrabka in a Vermont state court seeking to recover an estimated $10 million. | |procedural_history=*Citizens Bank sued Ouhrabka in a Vermont state court seeking to recover an estimated $10 million. | ||
*Citizens sought to attach a writ to Ouhrabka's house | |||
*Citizens lost & was denied the writ because Ouhrabka's wife was not a debtor | |||
*Citizens filed an interlocutory appeal to the Vermont Supreme Court | |||
* | |||
|issues=Can an individual creditor of 1 spouse satisfy a debt personally owned by that spouse by attaching a lien to property jointly held by both spouses (tenants by the entirety)? | |||
|rule=* [https://www.quimbee.com/keyterms/tenancy-by-the-entirety tenancy by the entirety] = American co-ownership of land between spouses | |rule=* [https://www.quimbee.com/keyterms/tenancy-by-the-entirety tenancy by the entirety] = American co-ownership of land between spouses | ||
|case_text_links={{Infobox Case Brief/Case Text Link | |case_text_links={{Infobox Case Brief/Case Text Link | ||
Revision as of 21:51, April 26, 2024
| Citizens v. Ouhrabka | |
| Court | Vermont Supreme Court |
|---|---|
| Citation | 190 Vt. 251, 30 A.3d 1266 |
| Date decided | August 5, 2011 |
Facts
- Ouhrabka was the owner of a jewelry store in Rhode Island
- RBS Citizens, N.A. = Citizens Bank = a bank that loaned Ouhrabka's company more than $15 million
- In August 2006, Ouhrabka signed a personal guarantee with Citizens Banks ("Citizens") whereby he became personally responsible for 1/2 million dollars of the debt
- Later on, Ouhrabka accepted personal liability for all of the jewelry company's debt
- Ouhrabka submitted a financial statement to Citizens listing his house that he co-owned with his wife as tenants by the entirety
- Ouhrabka's house with his wife was worth $1/4 million at the time
- The jewelry store was placed into receivership.
Procedural History
- Citizens Bank sued Ouhrabka in a Vermont state court seeking to recover an estimated $10 million.
- Citizens sought to attach a writ to Ouhrabka's house
- Citizens lost & was denied the writ because Ouhrabka's wife was not a debtor
- Citizens filed an interlocutory appeal to the Vermont Supreme Court
Issues
Can an individual creditor of 1 spouse satisfy a debt personally owned by that spouse by attaching a lien to property jointly held by both spouses (tenants by the entirety)?
Rule
- tenancy by the entirety = American co-ownership of land between spouses
