![]() Robert Abrams, Abrams & Associates, LLC.A tax is imposed upon the privilege of transferring title to, or beneficial interest in, real property located in the city, whether or not the agreement or contract providing for the transfer is entered into the city. Our law firm is very familiar with the terms and circumstances surrounding a fraudulent conveyance lawsuit. Further, Attorney Robert Abrams is a land developer and contractor with over 25 years of 27 years of experience in these areas. So, the transfer and sale of any asset during the pendency of litigation gives natural rise to suspicion for fraudulent conveyance.Ībrams & Associates, LLC, practices law in the areas of construction, contracting, real estate, foreclosures, mechanic’s liens and other matters related to construction, contracting and real estate. Frequently real estate and construction judgments are extensive and high value. ![]() Construction defect issues give rise to litigation. §38-8-108.Ī debtor need be extremely cautious in the transfer of his assets prior to, during or after judgment. Appointment of a receiver to take charge of the asset.įinally, if the creditor has obtained a judgment against the debtor, he may levy execution on the asset or its proceeds.Injunction against further disposition of the asset by debtor or transferee.Attachment against the asset transferred.If plaintiff shows a sufficient number and combination of badges of fraud, or establishes fraud without intent, the remedy is avoidance of the transfer. In addition, if plaintiff can prove that defendant did not receive reasonably equivalent value for the property and that he believed, or should have believed, he would incur debt beyond his ability to pay, intent is not required and fraud is established conclusively. he received “reasonably equivalent value” for the transferred property.Ī number of other factors may be considered depending on the facts of the case.he disclosed or concealed the transfer.he was or became insolvent shortly after the transfer.defendant had been sued before the transfer.The courts have uniformly recognized … that a transfer to a closely related person warrants close scrutiny of the other circumstances, including the nature and extent of the consideration exchanged. The Official Comment to C.R.S §38-8-105 states: Because his wife is an insider, the court would give close attention to the other circumstances involved in the exchange. In the instant case considered, plaintiff anticipated that defendant-debtor would transfer title to a property in question in a construction defect lawsuit, to his wife. ![]() ![]() To determine intent the court will consider a number of factors, known as “badges of fraud.” Schempp v.Lucre Management Group, LLC, 18 P.3d 762 (Colo.App. A conveyance, or transfer, is fraudulent if the debtor had actual intent to hinder, delay or defraud any creditor. Under certain circumstances, the answer is yes. The question, is a transfer of real estate from a debtor to his wife, during litigation, in anticipation of a creditor’s judgment against him in a construction defect matter, a fraudulent conveyance and therefore void? Specifically, did the defendant transfer his real estate to his wife to protect his real estate from judgment creditors, prior to judgment in a construction defect lawsuit? And, is this transfer a fraudulent conveyance? The law firm of Abrams & Associates, LLC, through attorney Robert Abrams, resolved the following construction defect and real estate transfer transaction under the guise of fraudulent conveyance. ![]()
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