What is a fraudulent conveyance and how does it affect me and my ability to protect my assets from lawsuits. SUBSCRIBE: [ Ссылка ] . Visit [ Ссылка ] ... or call +1-661-310-2931. Can I get into trouble or is it okay? What is the lookback period? What is a preference? What is the statute of limitations. How does it affect me in California? Virginia? Texas? Other states.
A fraudulent transfer, fraudulent conveyance or fraudulent conversion, now called a voidable transaction, is when someone transfers or converts a non-exempt asset, such as cash, stock or real estate, with intent to delay or hinder collection by a creditor.
The important thing to know that fraudulent conveyance is this is a civil remedy only. It is by and large not a crime. And as the largest asset protection company in the nation I have never heard of any client going to jail for it.
The creditor’s only remedy, and this has been established by many appellate decisions, is to undo or reverse the fraudulent transfer, which means that the debtor is in the same position he was before he made the transfer.
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