Fast Photo Express, Inc. v. First National Bank

BEATTY, J.:

Jay and Barbara Specter appeal the master-in-equity’s order transferring property in partial satisfaction of a judgment. 1 We affirm in part and reverse in part. 2

FACTS

On September 30, 1994, M.P.H. Holdings, Inc., obtained a personal judgment against Jay and Barbara Specter for $62,730, and a writ of execution was filed on March 20, 1996. An attempt was made to execute the judgment, but the sheriffs office returned the execution against property to the clerk marked “nulla bona” on August 14, 1996. M.P.H. Holdings dissolved in 2002, and it surrendered its authority to do business in…