TeachMeFinance.com - explain Fraudulent conveyance
Fraudulent conveyance -- A conveyance without adequate
consideration, made for the purpose of delaying, hindering or
Fraudulent conveyance -- A conveyance of property for other than a valuable consideration made within a certain time before the bankruptcy of the person who executes the same. Thus, if a person makes a voluntary conveyance within two years before his bankruptcy, this conveyance is held to be fraudulent and therefore void under all circumstances. And even if the voluntary consequence has been executed within ten years before his bankruptcy it is likewise void unless the bankrupt can prove that he was quite solvent without taking into account the property comprised in the conveyance.
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