Fraudulent Transfers

Fraudulent transfers refer to transactions where an individual or business intentionally transfers assets to shield them from creditors or legal claims. This usually occurs when a person anticipates lawsuits or financial difficulties and seeks to hide their wealth. For example, selling property to a friend for much less than its value can be considered a fraudulent transfer. Laws exist to reverse these transactions, allowing creditors to recover funds. Essentially, it's about ensuring fair play in financial dealings and preventing individuals from unfairly avoiding their debts.