Source: https://voidabletransactions.com/virginia-voidable-transaction-uvta-fraudulent-transfer-ufta.html
Timestamp: 2020-08-05 10:38:58
Document Index: 719113509

Matched Legal Cases: ['§ 55', '§ 55', '§ 55', '§ 55', '§ 55', '§ 55', '§ 55', '§ 55', '§ 55', '§ 55']

Virginia Voidable Transaction UVTA Fraudulent Transfer UFTA
Virginia Fraudulent Conveyances Code
Va.Code §§ 55.1-400, et seq.
§ 55.1-400 - Void fraudulent acts; bona fide purchasers not affected
§ 55.1-401 - Voluntary gifts, conveyances, assignments, transfers, or charges; void as to prior creditors
§ 55.1-402 - Creditor's action to avoid such gifts, conveyances, assignments, transfers, or charges
§ 55.1-403 - Creditor's action; attorney fees
§ 55.1-404 - Authority of court to set aside
§ 55.1-412 - Words "creditors" and "purchasers," how construed
In any action brought by a creditor pursuant to § 55.1-400, 55.1-401, or 55.1-402, where a (i) gift; (ii) deed; (iii) conveyance, assignment, or transfer of or charge upon the estate of a debtor; (iv) action commenced or judgment or execution suffered or obtained; or (v) bond or other writing is declared void, the court shall award counsel for the creditor reasonable attorney fees against the debtor. Upon a finding of fraudulent conveyance pursuant to § 55.1-400, the court may assess sanctions, including such attorney fees, against all parties over which it has jurisdiction who, with the intent to defraud and having knowledge of the judgment, participated in the conveyance. Should there be a resulting judicial sale, any award of attorney fees shall be paid out of the proceeds of the sale, as other costs are paid, provided that the award of attorney fees does not affect a prior lien creditor not represented by the attorney.
The court may set aside a fraudulent conveyance or voluntary transfer pursuant to § 55.1-400 or 55.1-401 during an action brought by a creditor to execute on a judgment, either on motion of the creditor or on its own motion, provided that all parties who have an interest in the property subject to the conveyance or transfer are given notice of the proceeding. The court, by order, may direct the clerk to issue the proper process against such parties and, upon the maturing of the case, proceed to make such orders as would have been proper if the new parties had been made parties at the commencement of the action.