Fraudulent Conveyance Lawyer
Fraudulent conveyance is an attempt to transfer money (to another person, or another company) in order to avoid debt. It is also known as a fraudulent transfer. Fraudulent conveyances are typically brought about by creditors or by an entity involved in bankruptcy cases. A fraudulent transfer of an asset to someone else, without consideration, is considered a fraud on the creditor if the result is that the creditor cannot collect the full amount of debt. Simply put, fraudulent conveyances are shady deals.
Fraudulent Conveyance Claims: Bring Suit or Defend
Allegations of fraudulent conveyance arise in a variety of circumstances, such as the following:
- A debtor transfers a title to someone (typically, someone within the debtor’s family) to protect the asset from the reach of creditors — presumably with an unspoken agreement that the property will later be returned, once the threat of loss to a creditor has passed.
- The debtor makes the transfer of assets to someone (typically a family member) with no consideration or payment received.
- Someone “buys” an asset at a bargain-basement price with the understanding that the asset will be sold back, after the heat of collection has passed.
Uniform Fraudulent Conveyance Act
To remove a fraudulent conveyance and get the property or asset back into the hands of the origins owner so that you may collect (by seizing the asset), you must file a suit under the Uniform Fraudulent Conveyance Act. You may have an opportunity to collect directly through a settlement, but it all needs to start with the filing of suit.
Fraudulent Conveyance Claim? Contact John McDuff Today.
I am John McDuff, and I am well-qualified and prepared to evaluate your case, make recommendations, and bring suit or defend against fraudulent conveyance claims. If you are looking to discuss your need to collect an asset that has been put out of your reach, or if you need to defend a suit that has been wrongfully filed, call my law firm at 512.457.1177. My clients are predominantly from Austin and Travis County, but I also take cases around Central Texas.