Uniform Fraudulent Conveyance Act
- Uniform Fraudulent Conveyance Act
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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 In many states it has been repealed and replaced with the Uniform Fraudulent Transfer Act (UFTA).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 UFCA is still in effect in three jurisdictions, including New York. While there are certain differences, both the UFCA and the UFTA share the same underlying principle that title to assets conveyed to a third party for the purpose of placing such assets beyond the reach of creditors is fraudulent. Both statutes provide creditors with a remedy when debtors hide or transfer assets that would otherwise be available to satisfy legitimate debts.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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Uniform Fraudulent Transfer Act — (UFTA) USA A model Act adopted in 1984 to replace the Uniform Fraudulent Conveyance Act (UFCA). The UFTA has been enacted in 44 jurisdictions, including Delaware. While there are certain differences, both the UFTA and the UFCA share the same… … Law dictionary
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 — 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 Act — One of the uniform laws. 37 Am J2d Frd Conv § 3 … Ballentine's law dictionary
conveyance — A means of transportation; in most common usage, a deed transferring the title to land from one person to another, both the term deed in the restricted sense and the term conveyance being an abbreviated form of the expression deed of conveyance.… … Ballentine's law dictionary
UFCA — Uniform Fraudulent Conveyance Act, which many states have adopted. See fraudulent conveyance www.law.cornell.edu/uniform/vol7.html … Black's law dictionary
UFCA — abbrUniform Fraudulent Conveyance Act see also the important laws section Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. UFCA … Law dictionary
creditor — An obligee, a person, natural or artificial, public or private, in whose favor an obligation exists by reason of which he is or may become entitled to the payment of money, at least if the obligation is one on a liquidated demand based upon an… … Ballentine's law dictionary
UFTA — abbrUniform Fraudulent Transfer Act see also the important laws section Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. UFTA … Law dictionary
