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Difference between revisions of "Fraudulent Conveyances and Fraudulent Preferences"
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Fraudulent Conveyances and Fraudulent Preferences (view source)
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It is against the law for a debtor to avoid a creditor’s claim by transferring an interest in property (a '''fraudulent conveyance''') or making payments to (“preferring”) another creditor (a '''fraudulent preference'''). | It is against the law for a debtor to avoid a creditor’s claim by transferring an interest in property (a '''fraudulent conveyance''') or making payments to (“preferring”) another creditor (a '''fraudulent preference'''). | ||
== Client problems== | == Client problems== | ||
* | * Client asks if it is permissible to “hide” assets from creditors or a court bailiff.
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* Client asks if it is permissible to pay off a relative who is a creditor, but not other creditors.
| * Client asks if it is permissible to pay off a relative who is a creditor, but not other creditors.
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* Client asks if they can avoid creditors coming after the client’s house by transferring it into the name of their spouse, who is not legally liable for the debts of the client.
| * Client asks if they can avoid creditors coming after the client’s house by transferring it into the name of their spouse, who is not legally liable for the debts of the client.
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== Summary of the law == | == Summary of the law == | ||
[[File:Consumer_Law_and_Debt_-_Fraudulent_Conveyances_and_Fraudulent_Preferences.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]] | [[File:Consumer_Law_and_Debt_-_Fraudulent_Conveyances_and_Fraudulent_Preferences.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]] | ||
