Fraudulent Transfer at Legal Glossary

What is it? In a bankruptcy case, a transfer of property to another for less than the propertys value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

Law Definition Added By: Amelia

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