FRAUDULENT TRANSFER
\fɹˈɔːdjʊlənt tɹˈansfɜː], \fɹˈɔːdjʊlənt tɹˈansfɜː], \f_ɹ_ˈɔː_d_j_ʊ_l_ə_n_t t_ɹ_ˈa_n_s_f_ɜː]\
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In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.
By Oddity Software
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.