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doctrine of fraudulent transfer

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

In the primciple of doctrine of fraudulent transfer a person transfers his property so that the creditors shall not have anything out of that property,the transfer is called fraudulent transfer. A debtor in order to defeat the rights of creditors may transfer his property to some other persob who may be his relative or friend.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

**DOCTRINE OF FRAUDULENT TRANSFER** In the primciple of doctrine of fraudulent transfer a person transfers his property so that the creditors shall not have anything out of that property,the transfer is called fraudulent transfer. A debtor in order to defeat the rights of creditors may transfer his property to some other persob who may be his relative or friend. Every transfer made above shall be null and void if the transger is made to defraud the creditors and the creditor challenges it in the court of law. Thanks

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

The principle of Section 53 is based on the rule of justice, equity and good conscience. The section enumerates fraudulent transfer. 1. Every transfer of immovable property, made with the intent to defeat or delay the creditors of the transferor, comes into the category of the fraudulent transfer and therefore, they are voidable at the option of the creditors, who are so defeated or delayed.

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Open uri20170510 32134 tcchcu?1494421832 answered

Hiii friend.... Doctrine of Fraudulent Transfer ------------------------------- The principle of Section 53 is based on the rule of justice, equity and good conscience. The section enumerates fraudulent transfer. 1. Every transfer of immovable property, made with the intent to defeat or delay the creditors of the transferor, comes into the category of the fraudulent transfer and therefore, they are voidable at the option of the creditors, who are so defeated or delayed. 2. Every transfer of immovable property made, without consideration with intent to defraud a subsequent transferee, comes under the category of fraudulent transfer. Therefore, it is voidable at the option of such transferee. In both circumstances, the transfer is voidable at the option of the person affected by such fraudulent transfer. Regards,

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Open uri20170510 32134 1nqu8aj?1494421649 answered

A fraudulent conveyance, or fraudulent transfer, is an attempt to avoid debt by transferring money to another person or company. It is a civil cause of action. It arises in debtor/creditor relations, particularly with reference to insolvent debtors. The cause of action is typically brought by creditors or by bankruptcy trustees. A transfer will be fraudulent if made with actual intent to hinder, delay or defraud any creditor. Thus, if a transfer is made with the specific intent to avoid satisfying a specific liability, then actual intent is present. However, when a debtor prefers to pay one creditor instead of another that is not a fraudulent transfer.

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