Where a conveyance between spouses is made in consideration of love and affection, it is voluntary and fraudulent if it renders the debtor spouse unable to pay existing personal debts.
However, if one spouse pays the other the market value of the property, the transfer is valid and will not be set aside as a fraudulent conveyance. Family RelationshipsĪ conveyance by one spouse to the other based upon a fictitious or nominal consideration is generally treated as fraudulent if it is made to defeat the spouse's creditor's claims. If a voluntary conveyance renders a debtor insolvent or leaves the debtor without the means of paying the debts existing at the time of the conveyance, it is fraudulent and without any legal effect, regardless of the intent of the parties. Another example is if the transfer included virtually all of the debtor's assets. The failure to record a conveyance, such as a deed to land, might indicate the existence of fraud. Such rules are called "badges of fraud." For example, if the Transfer of Assets was concealed, an inference of Fraud can be made. Because it may be difficult for the courts to determine an individual's intent, rules have been established to help in the process. Whether a transaction constitutes a fraudulent conveyance depends upon the existence of the intent to defraud at the time that the challenged transfer was made. Just because an individual in debt makes a conveyance of his or her property does not mean that it is a fraudulent conveyance. In many jurisdictions, a court will not set aside the conveyance if the debtor owns property, other than that which has been fraudulently conveyed, that is sufficient to pay the debt. A judgment is usually required to show with certainty the existence of a valid and enforceable debt, but it can be dispensed with, depending upon the particular circumstances of the case. Generally, the individual must acquire a lien (a right or claim) or a judgment (a court decision) against a debtor's property. Most states have adopted some version of either the Uniform Fraudulent Transfer Act (UFTA) or the older Uniform Fraudulent Conveyance Act (UFCA). This is a fraudulent conveyance that can be set aside by the court at the request of the defrauded creditor.A creditor who seeks to set aside a fraudulent conveyance must comply with state statutes. He informs the relative that he has not relinquished ownership of the funds, but merely wants to isolate the money from the reach of his creditors. Send us feedback about these examples.A transfer of property that is made to swindle, hinder, or delay a creditor, or to put such property beyond his or her reach.įor example, a man transfers his bank account to a relative by putting the account in the relative's name.
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'convey.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Carl Sferrazza Anthony, Town & Country, At one point in the questioning, the interviewer, David Wallace-Wells, asked Fauci how effectively the age skew of COVID was conveyed to the public. Taylor Jr., USA TODAY, Every aspect of the ship’s vision and execution was intended to convey a patriotic aura, starting with its two distinct red, white, and blue smokestacks.
Jennifer Ouellette, Ars Technica, Offering a range conveys flexibility and doesn't come across as a demand or ultimatum. Kwame Christian, Forbes, Melange also conveys a kind of prescience and makes faster-than-light travel practical. Jeff Mcmurray, The Christian Science Monitor, Employees with strong communication skills are better equipped to convey ideas, collaborate, and understand the needs of their colleagues and clients. Selome Hailu, Variety, Many also convey the time remaining before the light turns red. Ron Charles, Washington Post, In five minutes, a ton of information will be conveyed with five one-minute shots, rather than over-explaining things with dialogue and editing.
Recent Examples on the Web Cline writes in a sleek, cool style that conveys both Alex’s naivete and her mirthless irony.
0 kommentar(er)
