An asset search is researching records of financial transactions, real estate, and business interests to determine the overall financial situation of an individual or organization. Asset searches are used for a variety of purposes, such as determining the wealth of individuals who owe you money from a judgment or determining the assets of an estate prior to probate. An asset is anything that has monetary value and includes: bank accounts, cars, property, businesses, and less common assets such as art, life insurance policies, trademarks, leases, and patents.
A wide range of assets can be searched, each requiring different skills to extract information. An asset search not only turns up tangible items that an individual owns but can also locate property held in a different name, potentially poised to be hidden.
What are the most common assets revealed in an asset search?
Property: Real estate, land, buildings, aircraft hangers, and other properties
Bank accounts: Savings and checking accounts
Vehicles: Transportation vehicles including cars, vans, and other types of vehicles
Vessels: Ships, yachts, boats, and other marine vessels
Corporate affiliations: Corporations and business interests
Aircraft: Planes, jets, and helicopters
Jewelry: Precious jewelry such as gold, diamonds, and other expensive timepieces
Investments: Investments in stocks, bonds, and cryptocurrencies
Artwork: Fine art includes paintings, sculptures, and other media.
How can an asset search benefit a civil case?
Gathering information about the debtor’s assets is a crucial step in the legal process. An asset search is one of the ways this can be done and can help you understand the debtor’s financial situation. A thorough asset search can help you determine whether you should pursue legal action, how much you should ask for in damages, and what your likelihood of recovery is. An asset search may also reveal additional sources of income, or that the debtor has moved assets. In some cases, the search will provide evidence that the debtor has dissipated assets or concealed ownership of them. If you don’t have proof of assets, you will not be able to recover them.
Private investigators who perform asset searches typically will specialize in them. A specialized private investigator will use their expertise in conducting investigations and analyses to provide an accurate account of all available assets owned by an individual. Researching assets is time-consuming and tedious, but thorough research can provide accurate and authentic results.
In conclusion, an asset search can prove to be beneficial to a creditor or a debtor in a variety of ways. Being aware of the assets that one possesses can help a creditor collect their money in the event of a judgment or divorce, and it prevents debtors from hiding assets. If you are interested in an asset search, make sure that the company you choose has a specialty in this area.
When seeking the aid of a professional, or conducting your own research, it is helpful to learn everything you can about the assets of the person or business you’re dealing with in court.
If you’re ready to get started on an asset search, Active Intel Investigations offers a do-it-yourself investigation to perform your own asset search with the assistance of a private investigator. Not sure yet? Set up a consultation 1:1 with a licensed private investigator through our partner TeleClient to discuss your case.