fraudulent conveyance

fraudulent conveyance
fraudulent conveyance n: a conveyance of property made for the purpose of rendering the property unavailable for satisfaction of a debt or otherwise hindering or defeating the rights of creditors; specif: a conveyance of property that is made in return for inadequate consideration by one who is insolvent or who is rendered insolvent, undercapitalized, or unable to pay his or her debts as a result of the conveyance or that is made with the intent of hindering, delaying, or defrauding his or her creditors – called also fraudulent transfer; compare preference
◇ A fraudulent conveyance is generally voidable by a court or, in a bankruptcy case, by the trustee in bankruptcy.

Merriam-Webster’s Dictionary of Law. . 1996.

fraudulent conveyance
n.
A transfer of property done to hinder a creditor or place the property out of a creditor’s reach.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


fraudulent conveyance
The transfer (conveyance) of title to real property for the express purpose of putting it beyond the reach of a known creditor. In such a case, the creditor may bring a lawsuit to void the transfer.
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy
Category: Bankruptcy, Foreclosure & Debt → Debt & Collection Agencies

Nolo’s Plain-English Law Dictionary. . 2009.

fraudulent conveyance
USA
fraudulent conveyance, Also known as fraudulent transfer.
A transfer of a debtor's property made within two years before the filing of the bankruptcy petition (or other time limit set by state law) for which the debtor received little or no consideration while the debtor was (or was rendered) insolvent. Fraudulent conveyances also include transfers made with actual intent to hinder, delay, or defraud creditors. In this context, fraudulent does not refer to a criminal fraud, but rather means only that the transfer has placed the assets out of the reach of creditors. Fraudulent conveyances may be reversed by the bankruptcy court. This is a major concern of lenders who do not want payments from the borrower or a guarantor to be rescinded.
For further information, see Practice Notes, Fraudulent Conveyances in Bankruptcy: Overview (www.practicallaw.com/4-382-1268) and Fraudulent Conveyances: Issues and Strategies for Lenders and Private Equity Sponsors (www.practicallaw.com/8-382-2478).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


fraudulent conveyance
n. A transfer of real property to another, typically lacking any or significant consideration, made for the purposes of protecting the property from a creditor who would otherwise seek its sale or forfeiture.

Webster's New World Law Dictionary. . 2000.


fraudulent conveyance
A transfer of property that is made to swindle, hinder, or delay a creditor, or to put such property beyond his or her reach.

Dictionary from West's Encyclopedia of American Law. 2005.


fraudulent conveyance
A transfer of property that is made to swindle, hinder, or delay a creditor, or to put such property beyond his or her reach.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

fraudulent conveyance
n.
   the transfer (conveyance) of title to real property for the express purpose of putting it beyond the reach of a known creditor. In such a case the creditor may bring a lawsuit to void the transfer. However, if the transfer was made without knowledge of the claim (or before a debt has matured), for other legitimate reasons, and/or in the normal course of business, then the creditor's attempt to obtain a judgment setting aside the conveyance will probably fail.

Law dictionary. . 2013.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • fraudulent conveyance — the transfer of valuable assets from a company which i) occurs when the company is technically insolvent, ii) renders the company insolvent, or iii) is made for less than adequate consideration. The spate of leveraged buyouts and other highly… …   Glossary of Bankruptcy

  • fraudulent conveyance — fraudulent conveyance/fraudulent transfer A transfer of an interest of the debtor made within one year prior to the filing of bankruptcy that is either made by the debtor with the intent to defraud its creditors or for which the debtor receives… …   Financial and business terms

  • Fraudulent conveyance — A fraudulent conveyance, also fraudulent transfer is a civil cause of action. It arises in debtor/creditor relations, particularly with reference to insolvent debtors. The cause of action is typically brought by creditors or by bankruptcy… …   Wikipedia

  • Fraudulent Conveyance — The illegal transfer of property to another party in order to defer, hinder or defraud creditors, or to put such property out of the reach of a creditor. Fraudulent conveyance, for instance, would occur if an individual sold all of his… …   Investment dictionary

  • fraudulent conveyance — A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach. Dean v. Davis, 242 U.S. 438, 37 S.Ct. 130, 61 L.Ed. 419. Conveyance made with intent to avoid… …   Black's law dictionary

  • fraudulent conveyance — A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach. Dean v. Davis, 242 U.S. 438, 37 S.Ct. 130, 61 L.Ed. 419. Conveyance made with intent to avoid… …   Black's law dictionary

  • fraudulent conveyance — A conveyance in fraud of creditors. A transaction by means of which the owner of real or personal property has sought to place the land or goods beyond the reach of his creditors, or which operates to the prejudice of their legal or equitable… …   Ballentine's law dictionary

  • fraudulent conveyance — The transfer of property to another person with the aim of putting it beyond the reach of creditors. For example, if a man transfers his house into the name of his wife because he realizes that his business is about to become insolvent, the… …   Accounting dictionary

  • fraudulent conveyance — The transfer of property to another person with the aim of putting it beyond the reach of creditors. For example, if a man transfers his house into the name of his wife because he realizes that his business is about to become insolvent, the… …   Big dictionary of business and management

  • Uniform Fraudulent Conveyance Act — (UFCA) USA A model Act adopted in 1918 to codify and bring uniformity to the common law of fraudulent conveyance. In many states it has been repealed and replaced with the Uniform Fraudulent Transfer Act (UFTA). The U …   Law dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”