Originally from Attachment of Assets

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1. What is the general nature and effect of judicial measures available for plaintiffs to obtain provisional relief affecting property of debtors to obtain security for judgment to be obtained (attachments)? Freezing property in place? Placing it in the custody of a third party, such as a court official, sheriff or marshall? 

Chilean law draws a clear distinction between attachments ordered in executive proceedings and precautionary measures granted in declaratory proceedings, each with different purposes, effects, and procedural requirements. 

In executive proceedings or Juicios Ejecutivos (i.e. proceedings aimed at attaching assets of a debtor in order to sell them at a public auction and pay its debt with the proceeds thereof) attachments are of the essence, and they are defined as a judicial action practiced by a court clerk in which one or more assets of the debtor are seized and delivered to a depositary, to assure with the proceeds obtained from the sale thereof at a public auction ordered by the court, the payment of the relevant debt. The depository is liable for the assets that are delivered to him or her. The assets so delivered cannot be alienated or transferred in whatsoever manner unless either the creditor or the judge so consent. Any transfer in contravention of this prohibition is null and void. 

In actions other than a Juicio Ejecutivo the plaintiff is granted a series of reliefs aimed at ensuring the result of the action filed or at preventing possible damage. These remedies are: 

i) sequestership of the assets subject matter of the action. It consists of the physical delivery of an object disputed among two or more parties to a third party appointed by the judge. It can only affect personal property and does not make such personal property non-transferable