Fraudulent Transfer Act

The Fraudulent Transfer Act is a law designed to prevent individuals or businesses from hiding or moving their assets to avoid paying creditors. When someone is facing financial trouble or litigation, they might try to sell or transfer their property to someone else, making it difficult for creditors to collect what they are owed. This act allows courts to review such transactions and, if deemed fraudulent, can reverse them, ensuring that creditors can access the rightful assets to settle debts. It promotes fairness in financial dealings and protects the integrity of the debt collection process.