Fraudulent Transfer - Transfer of Property Act 1882

Fraudulent Transfer

Sections 53(1) and (2) of the Transfer of Property Act 1882, defines Fraudulent transfer as:

(1)Every transfer of immoveable property made with intent to defeat or delay the creditors of the transferor shall be voidable at the option of any creditor so defeated or delayed.

(2) Every transfer of immoveable property made without consideration with intent to defraud a subsequent transferee shall be voidable at the option of such transferee.

In general terms, fraudulent transfer means transfer of assets with an intent to defraud the creditors.