What Is an Asset Search Investigation?
An asset search investigation is a systematic inquiry into the financial holdings and property interests of an individual or entity. Conducted by a qualified investigator with access to professional-grade database resources and public records, an asset search produces a comprehensive financial picture: real property holdings, business interests, vehicles, bank account locations, investment accounts, judgments and liens, and other financial assets.
For attorneys, asset searches serve three primary strategic purposes: pre-litigation assessment of whether a potential defendant has collectible assets, post-judgment collection support to locate assets for enforcement, and pre-settlement negotiation intelligence to understand the true financial position of opposing parties.
What an Asset Search Can Find
Real Property
County recorder records across all 50 states contain deeds, mortgages, and transfers of real property. A comprehensive asset search identifies all real property in the subject’s name, including properties held in trust or through LLCs where the subject’s connection is documented.
Business Interests
Secretary of State filings, UCC filings, and business registration databases reveal business entities the subject has ownership interests in, including entities where they are listed as a registered agent or officer.
Vehicle and Watercraft
DMV records (accessed through permissible-purpose channels) identify vehicles, boats, and aircraft registered to the subject.
Bank Account Locations
While specific account numbers are not publicly accessible, investigative techniques can identify which financial institutions a subject maintains accounts at. This information is essential for post-judgment garnishment proceedings.
Judgments and Liens
Existing judgments, tax liens, and UCC financing statements reveal financial obligations and secured interests against a subject’s assets — critical information for assessing net recovery potential.
Pre-Litigation Asset Searches: The Strategic Case
The most common regret attorneys express about asset searches is not ordering them sooner. The cost of a comprehensive asset search is typically $300-800 for an individual and $500-1,500 for an entity search. The cost of litigating to a judgment that cannot be collected is measured in tens of thousands of dollars in attorney time and client expense.
A pre-litigation asset search answers the fundamental question that determines whether a case is worth pursuing: is there something to collect? When the answer is no — when the defendant has no real property, no registered assets, and no traceable bank accounts — that information should inform the decision to file, the litigation budget, and the settlement strategy.
Post-Judgment Asset Searches: Enforcement Intelligence
A judgment without enforcement is a piece of paper. The asset search is the foundation of an enforcement strategy, identifying: real property for judgment liens, bank accounts for garnishment, employer information for wage garnishment, and business interests for charging orders or receiver appointment.
Post-judgment searches should be refreshed periodically, particularly if initial enforcement efforts are unsuccessful. Asset positions change — properties are acquired and transferred, accounts are opened and closed, business interests fluctuate. A search that found nothing 18 months ago may find significant assets today.
Corporate and Entity Asset Searches
Asset searches for businesses and entities require different methodologies than individual searches. Key components include: entity structure mapping (identifying parent companies, subsidiaries, and related entities), real property held by related entities, bank account identification at the entity level, and UCC filing analysis to identify secured creditors and asset encumbrances.
Frequently Asked Questions
How long does an asset search take?
A standard individual asset search takes 24-72 hours. Rush searches can often be completed in 4-8 hours at additional cost. Complex entity searches with multiple related entities may take 3-5 business days.
Are asset searches legal?
Yes, when conducted by a licensed investigator for a permissible purpose under applicable law. Permissible purposes include litigation support, judgment collection, and business due diligence. The Driver’s Privacy Protection Act and other statutes regulate specific data access methods.
What is the difference between an asset search and a background check?
A background check covers criminal history, employment verification, credit overview, and identity verification. An asset search focuses specifically on financial holdings and property interests. They serve different purposes and are often used together in litigation contexts.
Can hidden assets be found through an asset search?
Many ‘hidden’ assets are accessible through proper database searches and public records that a subject does not realize are findable. Sophisticated concealment through offshore structures, nominee ownership, and complex entity layering requires more advanced investigation. A qualified investigator can advise on what is findable in a specific situation.
Do I need a court order to conduct an asset search?
For pre-litigation searches, no court order is required — the attorney or their retained investigator can conduct the search under attorney-work-product protection. Post-judgment enforcement searches similarly do not require court approval. Specific enforcement actions (bank levies, garnishments) require court-issued writs.
