What is an Asset Search?

  • 3 min read

An asset search is the research, analysis, and documentation of various types of records to determine the assets owned by an individual, group of individuals, or organization. There are numerous reasons why an asset search might be important, such as finding out the worth of an individual who owes you money from a judgment or establishing the worth of a deceased individual’s estate. It is also one of the steps used in marital property division cases to identify hidden assets. In addition to cash, assets include automobiles, properties, and businesses. Even less frequently, assets such as art, life assurance policies, trademarks, leases, and patents may be identified.

A wide range of assets can be searched, and it requires considerable skill to find important information in a set of data. Each class of assets has its own search process. An asset search may find assets that have switched classes, thereby concealing them.

The most searched-for assets are:

  • Property – Real estate, land, buildings, aircraft hangers, and more
  • Vessels – Boats, yachts, and other marine vessels
  • Vehicles – Cars, vans, and other types of vehicles
  • Jewelry – Precious jewelry such as gold and diamonds
  • Aircraft – Planes, jets, and helicopters
  • Watches – Expensive timepieces such as Rolex
  • Artwork – Fine art including paintings and sculptures
  • Collectibles – Antiques and rare items that are popular among collectors
  • Bank accounts – Savings or checking accounts held by financial institutions
  • Investments – Stocks and bonds or any security backed by an asset, cryptocurrency investments

How does an asset search help your case?

Gathering information about the debtor’s assets is an essential procedure in the legal process. An asset search may help you understand the debtor’s financial situation in addition to gathering information on his known and unknown assets. Through an asset search, you may determine whether to proceed with legal proceedings, what amount to seek in damages, and whether you will be able to recoup your losses. You may use an asset search to document the debtor’s assets and their possibility of recuperation. In some instances, an asset search may expose that the debtor has dissipated or concealed his assets fraudulently.

An individual’s assets are usually researched by private investigators, who use their investigative and analytical talents to provide a comprehensive report. It takes a lot of research to get accurate and genuine results, so asset searches might be time-consuming and laborious.

In conclusion, it is crucial to know what assets you have. Knowing what assets you have can help creditors collect their money if you are sued or divorced, and it can prevent debtors from hiding assets. You can perform your own asset search using a private investigator if you desire. If you want to conduct an asset search, be sure that the firm you choose has experience in this field.

Leave a Reply

Your email address will not be published. Required fields are marked *