“Also, if a court decided that Mrs Fuld did not pay enough for the mansion, the transfer be deemed to be “fraudulent conveyance” that would render the move void.”
Obviously the guy sold it to his wife to protect it. The only thing I don’t like: since when does a court have the right to determine if someone didn’t pay the ‘right’ amount for something? If he wanted to sell the house for a dollar, can’t that be done in a free market?
“If he wanted to sell the house for a dollar, can’t that be done in a free market?”
Not if the home is a potential target because of bankruptcy or trying to avoid taxes in some way.
He sold it in a private transaction, not the "free market". That brings his motivation into play.
obviously the reporter does not understand fl ch 222
as of right now, he has no judgment against him.
only speculation he will lose his suit.
There is a one year insider preference period, a four year statute of frauds period.
There ARE some interesting decisions in the southern district of FL which adress this. The reporter is incompetent for not doing this simple research.
The fact is creditors could not touch the house even if they DID get the judgments. It is an exempt asset.
They could not touch it before, they can’t touch it now.