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14 Litigating the Suit to Set Aside a Fraudulent Transfer ANDREW R. SCHWARTZ THOMAS J. KANYOCK Schwartz & Kanyock, LLC Chicago I. Introduction A. 14.1 What Is a Fraudulent Transfer? B. 14.2 Parties.

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The best defense to a fraudulent transfer claim is that reasonably equivalent value was given in exchange for the property transferred. In determining whether the consideration was reasonably equivalent, courts will engage in a two-step process to evaluate the totality of the circumstances.

One example is when an insolvent parent pays the college tuition of a non-minor child. Some courts have held the school liable to return the payment to the parent's bankruptcy trustee because, even though the college acted in good faith, it has not given value to the transferor.

The basic goal behind California's Uniform Fraudulent Transfer Act (UFTA) is to prevent debtors from “giving away” their assets before creditors can get to them. Just before filing for bankruptcy, a debtor may attempt to give his or her home or other properties to a relative.

-- (1) Every transfer of immoveable property made with intent to defeat or delay the creditors of the transferor shall be voidable at the option of any creditor so defeated or delayed. Nothing in this sub-section shall impair the rights of a transferee in good faith and for consideration.

Under title 11 of the United States Code (as amended, the “Bankruptcy Code”), a “fraudulent transfer” occurs when a debtor either (1) transfers property with the intent to hinder, delay or defraud its creditors or (2) makes a transfer for less than reasonably equivalent value and at the time of such transfer: (i) was ...

SECTION 4(a)(2)(ii): A transfer is fraudulent (whether the creditor's claim arose before or after the transfer was made) if the debtor made the transfer without receiving a reasonably equivalent value in exchange for the transfer, and the debtor believed (or should have believed) that he would incur debts beyond his ...

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232