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 This is a major concern of lenders who do not want payments from the borrower or a guarantor to be rescinded.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.

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