"Asset & Property Transfers"

[bluesky40]

What is the name of your state? Maryland......

Can someone explain what the term "fradulent conveyance" means? In regard to property ownership & litigation? Are there ramifications and is this punnishable by the courts? what could happen to someone whom is found guilty of doing this?

[racer72]

Can someone explain what the term "fradulent conveyance" means? In regard to property ownership & litigation?

Transferring or selling asset(s) to someone else to avoid losing said property due to litigation.

Are there ramifications and is this punnishable by the courts?

Yes and yes.

what could happen to someone whom is found guilty of doing this?

Transfer of the property could be revoked, a fine and possible jail time.

[beta]

Not a good idea to attempt. Chances are if the person does . Be expected to be hauled in to court and the whole transaction will be reversed by the Judge. And a hefty fine handed down by the court.

[Zigner]

[url]http://en.wikipedia.org/wiki/Fraudulent_conveyance[/url]

[neener17]

In simple terms what you are asking is considered fraud. If this is done be prepared for a whole mess of trouble ahead. It is best to pay debts and not to try and cheat your creditors. Also, credit reports are a nightmare to repair.