Business, Legal & Accounting Glossary
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.
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This glossary post was last updated: 22nd April, 2020 | 0 Views.