GLOSSARY · TAX & ESTATE
Voidable transfer
A gift or sale of property that a court can undo because it was made to hinder, delay or defraud a creditor, or because it was made for less than fair value while the owner was insolvent. Most states follow a version of the Uniform Voidable Transactions Act, and federal bankruptcy law has its own look-back periods. It is the reason asset protection has to be in place before any claim exists.
Also called: fraudulent transfer, fraudulent conveyance, voidable transaction
LEARN IT PROPERLY
CHAPTER · WEALTH PROTECTION FUNDAMENTALS · FOUNDATIONSHow Asset Protection WorksRELATED TERMS
SOURCES
- Uniform Voidable Transactions Act (2014). Uniform Law Commission.
- 11 U.S.C. § 548, Fraudulent transfers and obligations. United States Code.