Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

fraudulent conveyance

Read a random definition: delimit

A quick definition of fraudulent conveyance:

Fraudulent conveyance is when someone tries to transfer ownership of their property to avoid paying their debts. This is illegal and can be challenged in court by the creditor. It is considered fraudulent when the transfer is made with the intention of cheating the creditor or when it harms the creditor's legal rights. If someone does this, they can be sued and the transfer can be cancelled. This is only allowed in certain situations, such as when the debtor is insolvent or unable to pay their debts. Charitable contributions are exempt from this rule if they are within a certain limit.

A more thorough explanation:

A fraudulent conveyance is when someone transfers ownership of their property to someone else in order to avoid paying their debts to a creditor. This is illegal and can be challenged in court by the creditor. It is considered fraudulent because the person who transferred the property did it with the intention of cheating their creditor.

  • John owes $10,000 to his credit card company. He transfers ownership of his car to his brother so that the credit card company can't take it to pay off his debt. This is a fraudulent conveyance.
  • Sarah is about to file for bankruptcy because she can't pay her bills. She gives her expensive jewelry to her friend so that the bankruptcy court won't take it to pay off her debts. This is a fraudulent conveyance.

These examples illustrate how someone might try to cheat their creditors by transferring ownership of their property to someone else. This is illegal and can have serious consequences.

fraudulent concealment | fraudulent misrepresentation

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.