Definition - What does Nulla Bona mean?
Nulla bona is a Latin term that, literally translated, means "no goods."
It is used in a legal context in relation to goods being seized to fulfill debt repayment by bailiffs tasked by the court to seize such for payment.
If the bailiff or sheriff cannot find any goods of value to seize and sell to repay the debt, the term "nulla bona" will be written on the warrant that was issued to the bailiff to collect or seize the goods.
Justipedia explains Nulla Bona
In order for goods to be collected by a bailiff against a debt, a seizure writ must be issued against goods that hold a minimum individual value. This writ is called a "writ of fieri facias." The ability to collect debt money in this way is most commonly used in Western Europe. It is rarely seen in use within the United States, although some states have legalized it.
Nulla bona can also be claimed by a garnishee in circumstances where they believe that they do not owe a debtor money, or do not possess property that can be seized to pay a debt with a writ of fieri facias. However, if a debtor does have property that can be seized to pay a debt, then it is typically seized if a writ of fieri facias has been issued.