Florida Fraudulent Transfer

Category: Florida Fraud Law
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Florida Fraudulent Transfer Defined

A Florida fraudulent transfer occurs in the context of ongoing litigation or the collection of a final judgment.  In order to avoid paying creditors or the final judgment, a debtor will often attempt to hide income or assets.  Ways a debtor will attempt to hide assets includes the transfer of property to family members so that it is no longer technically in the debtor's name.   Similarly, a debtor may attempt to transfer property to a corporation that the debtor actually owns or controls.  The same game is played with income or monies that are owed to the debtor.  In other words, the debtor instructs the paying party to pay a family member or a corporation instead of the debtor.

Under Florida law, a debtor's attempt to transfer property or income so as to avoid paying creditors can be avoided.  All such transfers when done within a certain period of time are presumed to be fraudulent.  Once identified as being fraudulent, it is the burden of the debtor to prove to the court that the transfers are not fraudulent and were not taken to avoid payment to creditors.  The debtor's failure to prove that the transfers were not fraudulent entitles the creditor to have the transfers set aside and returned to the debtor so the creditor may levy upon the property.  A creditor may also seek to levy and garnish upon the property or income directly or even have a receiver appointed to catalog the property.

Florida Fraudulent Transfer Help and Benefits

Most creditors may find that obtaining a final judgment against a debtor is actually the easy part.  Collecting and enforcing that final judgment so the creditor is actually paid is often the most difficult task for a creditor.  Russell Law can assist you in this complex, difficult and tedious process.  As you can imagine, debtors at this stage are less than helpful and rarely forthcoming about their assets and income.  We can begin the process by conducting a thorough investigation of the debtors income, assets and bank accounts.  Thereafter, our law firm will conduct formal discovery in the case to obtain documents, deeds, titles, and bank statements from the debtor.  Russell Law will take all appropriate action with the Court to compel the debtor to produce all of their asset and income documentation as required by law.  Patrick Russell, Esq., will analyze all of this data and if necessary, schedule a deposition of the debtor to ascertain if any suspicious transactions are actually fraudulent transfers.   Our firm will file necessary papers with the Court to protect your rights if fraudulent transfers are identified and seek to have those transactions set aside so you can collect what is owed to you.

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