Transcription of A. UNIFORM FRAUDULENT TRANSFER ACT (UFTA
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A. UNIFORM FRAUDULENT TRANSFER ACT (UFTA
1 The Role of FRAUDULENT Conveyances in Collection Matters A. UNIFORM FRAUDULENT TRANSFER ACT (UFTA) Congratulations, you have just won a final judgment for your client. You were sure to have it conclude with the magic words, for which let execution issue. Unfortunately, your work is not yet finished. You now have to collect on the judgment, and in the event the judgment debtor is now or has been attempting to rid himself of his assets you are going to have to set aside those transfers. The UNIFORM FRAUDULENT TRANSFER Act of 1984, 11 USCA 548 et seq. has been adopted by 44 While it was originally designed to protect a debtor s estate from exhaustion by creditors,2 it has been used to set aside transfers by debtors who use those transfers to fraudulently defeat claims by creditors.
1 The Role of Fraudulent Conveyances in Collection Matters A. UNIFORM FRAUDULENT TRANSFER ACT (UFTA) Congratulations, you have just won a final judgment for your client. You were sure to have it conclude with the magic words,” for which let execution
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