Source: https://voidabletransactions.com/delaware-voidable-transaction-uvta-fraudulent-transfer-ufta.html
Timestamp: 2020-08-11 16:36:12
Document Index: 264328162

Matched Legal Cases: ['§ 1301', '§ 1302', '§ 1303', '§ 1304', '§ 1304', '§ 1305', '§ 1306', '§ 1307', '§ 1308', '§ 1308', '§ 1304', '§ 1307', '§ 1304', '§ 1305', '§ 1305', '§ 1309', '§ 1304', '§ 1305', '§ 1305', '§ 1310', '§ 1311']

Delaware Voidable Transaction UVTA Fraudulent Transfer UFTA
Delaware Uniform Fraudulent Transfers Act
Delaware UFTA a/k/a DEUFTA or DUFTA
6 Del.C. § 1301, et seq.
(8) “Lien” means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien or a statutory lien.
(9) “Person” means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, statutory trust, business trust, estate, trust or any other legal or commercial entity.
(11) “Relative” means an individual related by consanguinity within the 3rd degree as determined by the common law, a spouse, or an individual related to a spouse within the 3rd degree as so determined, and includes an individual in an adoptive relationship within the third degree.
(12) “Transfer” means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease and creation of a lien or other encumbrance but excludes, without limitation, any disposition of or parting with property or an interest in property described in paragraph (2) of this section.
§ 1302. Insolvency
(d) Assets under this section do not include property that has been transferred, concealed or removed with intent to hinder, delay or defraud creditors or that has been transferred in a manner making the transfer voidable under this chapter.
§ 1303. Value
(b) For the purposes of §§ 1304(a)(2) and 1305, a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of the interest of the debtor upon default under a mortgage, deed of trust or security agreement.
§ 1304. Transfers fraudulent as to present and future creditors
(b) In determining actual intent under paragraph (a)(1) of this section, consideration may be given, among other factors, to whether:
§ 1305. Transfers fraudulent as to present creditors
§ 1306. When transfer is made or obligation is incurred
b. With respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this chapter that is superior to the interest of the transferee;
(2) If applicable law permits the transfer to be perfected as provided in paragraph (1) of this section and the transfer is not so perfected before the commencement of an action for relief under this chapter, the transfer is deemed made immediately before the commencement of the action;
(3) If applicable law does not permit the transfer to be perfected as provided in paragraph (1) of this section, the transfer is made when it becomes effective between the debtor and the transferee;
§ 1307. Remedies of creditors
(a) In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in § 1308 of this title, may obtain:
(2) An attachment or other provisional remedy against the asset transferred or other property of the transferee in accordance with the procedure prescribed by applicable law;
(c) Notwithstanding any other provision of law or equity, a creditor shall have no right to relief against any trustee, attorney or other advisor who has not acted in bad faith on account of any transfer. For purposes of this subsection, it shall be presumed that the trustee, attorney or other advisor did not act in bad faith merely by counseling or effecting a transfer.
§ 1308. Defenses, liability and protection of transferee
(a) A transfer or obligation is not voidable under § 1304(a)(1) of this title against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.
(b) Except as otherwise provided in this section, to the extent a transfer is voidable in an action by a creditor under § 1307(a)(1) of this title, the creditor may recover judgment for the value of the asset transferred, as adjusted under subsection (c) of this section, or the amount necessary to satisfy the creditor’s claim, whichever is less. The judgment may be entered against:
(e) A transfer is not voidable under § 1304(a)(2) or § 1305 of this title if the transfer results from:
(f) A transfer is not voidable under § 1305(b) of this title:
§ 1309. Extinguishment of cause of action
(2) Under § 1304(a)(2) or § 1305(a) of this title, within 4 years after the transfer was made or the obligation was incurred; or
(3) Under § 1305(b) of this title, within 1 year after the transfer was made or the obligation was incurred.
§ 1310. Supplementary provisions
Unless displaced by the provisions of this chapter, the principles of law and equity, including the law merchant and the law relating to principal and agent, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency or other validating or invalidating cause, supplement its provisions.
§ 1311. Short title
This chapter may be cited as the “Uniform Fraudulent Transfer Act.”