Uniform Fraudulent Conveyance Act

The Uniform Fraudulent Conveyance Act is a legal framework that aims to prevent individuals or businesses from transferring their assets to avoid paying creditors. When someone faces financial trouble, they may try to hide their property by selling or giving it away, which can be seen as a fraudulent move. This Act allows courts to reverse such transfers if they are shown to be intended to defraud creditors, ensuring fairness in the collection of debts and protecting the rights of those owed money. It provides guidelines for identifying and addressing unfair asset transfers.