Quote:
Originally Posted by the
Sure, it could technically be a fraudulent conveyance, but so what?
Say you have a $2 million house (like snowman!), owned outright.
You are getting sued for 100 million. The plaintiff isn't quick enough to get a lien or anything on it, so you list it for $1.5 million through a broker, some guy comes along and buys it, you close and get the cash.
Now the cash disappears.
What's the creditor going to do when he gets a judgment a year or two from now?
A fraudulent conveyance only really works when you can sue the transferee, i.e., the person who took the asset. Like if you had a house and you transferred it to your mom.
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To answer what I have emphasized in bold above, make that person's life miserable for as long as the creditor wants? The "making the cash disappear" part is the problem, IMO.
Personally, I would not recommend the scenario you have outlined above and I am not assuming you are recommending it either.
