![]() ![]() If a transferee’s only liability to the trustee is under this section, and if he takes for value and in good faith, then subsection (c) grants him a lien on the property transferred, or other similar protection. The trustee of a partnership debtor may avoid any transfer of partnership property to a partner in the debtor if the debtor was or thereby became insolvent. Transfers made for less than a reasonably equivalent consideration are also vulnerable if the debtor was or thereby becomes insolvent, was engaged in business with an unreasonably small capital, or intended to incur debts that would be beyond his ability to repay. ![]() The trustee may avoid fraudulent transfers or obligations if made with actual intent to hinder, delay, or defraud a past or future creditor. Its history dates from the statute of 13 Eliz. It permits the trustee to avoid transfers by the debtor in fraud of his creditors. All rights reserved.This section is derived in large part from section 67d of the Bankruptcy Act. Other products and services may be trademarks or registered trademarks of their respective companies. Martindale-Hubbell and are registered trademarks AV, BV, AV Preeminent and BV Distinguished are registered certification marks and the Martindale-Hubbell Peer Review Rated Icon are service marks and Martindale-Hubbell Peer Review Ratings are trademarks of MH Sub I, LLC, used under license. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. ![]() This website is designed for general information only. ![]() Olson Law Firm is located in Huntington Beach, CA and serves clients in and around Yorba Linda, Foothill Ranch, Aliso Viejo, Costa Mesa, Laguna Hills, Lake Forest, Tustin, Newport Coast, Irvine, Corona Del Mar, Silverado, Laguna Beach, Rancho Santa Margarita and Orange County.Īttorney Advertising. We can be reached by phone: 71, email, or through our website.Ĭontact our collection attorney in Huntington Beach today to set up a Free and confidential consultation at: 71 or online. If you believe that a debtor is fraudulently transferring property or assets to avoid paying your judgment or debts, you should contact our debt collection attorney quickly to try to stop the transfer and prevent future transfers. Intended to incur or reasonably should have believed that he would incur debts beyond his ability to pay as they became due. Was engaged in a transaction for which the remaining assets of the debtor were unreasonably small in relation to the transaction.ī. Without receiving a reasonably equivalent value in exchange for the transfer or obligation (ie a non-arms- length transaction to a family member) and the debtor either:Ī. With the actual intent to hinder, delay, or defraud any creditor or the debtor Elements for a Fraudulent Transfer Claim in CaliforniaĪ transfer made or obligation by a debtor is fraudulent as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation as follows: Many times assets are transferred to a family member or a company that is set up just to conceal assets so it is critical that if you believe a debtor is transferring assets to prevent you from collecting a judgment that you contact an experienced collections attorney immediately. Our Huntington Beach Attorney can assist you with these claims, which are primarily based on the Uniform Fraudulent Transfer Act, CA Civil Code sections 3339 et. If a debtor has transferred assets or property to a relative, friend, or some other insider to avoid paying a judgment, he may be liable for a fraudulent transfer. Fraudulent Transfer Attorney- Setting Aside Illegal Transfers ![]()
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