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A fraudulent conveyance or fraudulent transfer is the transfer of property to another party to prevent, hinder, or delay the collection of a debt owed by or incumbent on the party making the transfer, sometimes by rendering the transferring party insolvent. [1]
The Fraudulent Conveyances Act 1571 (13 Eliz. 1. c. c. 5), also known as the Statute of 13 Elizabeth , was an Act of Parliament in England, which laid the foundations for fraudulent transactions to be unwound when a person had gone insolvent or bankrupt .
A fraudulent transfer is an illegal attempt to avoid paying a debt by transferring money to another person or entity. Critics have argued that a Texas divisive merger meets the definition of a fraudulent transfer when done in preparation for bankruptcy, because the divisive merger causes the spin-off to become insolvent (unable to pay its debts ...
Conceptually, fraudulent trading is similar to a fraudulent conveyance, [2] but the key distinction is that an application to have a transaction set aside as a fraudulent conveyance usually requires to the third party beneficiary to disgorge the benefit of the conveyance to undo the loss to the company's assets, whereas a court order in ...
A bona fide purchaser (BFP) – referred to more completely as a bona fide purchaser for value without notice – is a term used predominantly in common law jurisdictions in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property.
An action to quiet title is a lawsuit brought in a court having jurisdiction over property disputes, in order to establish a party's title to real property, or personal property having a title, of against anyone and everyone, and thus "quiet" any challenges or claims to the title.
Amid controversy surrounding the carnivore diet, researcher Nick Norwitz recently released a video in which he debunks eight myths surrounding the meat-heavy eating plan.
Special powers of appointment also appear in the context of a trust and are primarily used to reduce liability for generation-skipping transfer tax, or to provide asset protection trust features without fraudulent conveyance liability. In the United States, such trusts are referred to as SPA Trusts.