Levy
1. Legally ordered seizure and sale of property to satisfy a delinquent debt or judgment. The money obtained from such action is also called a levy.
2. A fine or tax.
Definition from Nolo’s Plain-English Law Dictionary
1) To seize property to satisfy a debt or lawsuit judgment. Sometimes used as a noun to refer to the property seizure. 2) To impose or assess, as a tax.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:19 pm
