What is fraudulent conveyance?

Fraudulent conveyance is a form of asset protection law in Washington that involves the fraudulent transfer of property, usually done to avoid creditors. This can include transferring title to an asset or moving funds from one account to another. It is illegal in the state of Washington to knowingly transfer or conceal property that is owed to a creditor in order to avoid payment. Fraudulent conveyance is a civil crime, meaning the state of Washington can file a suit against anyone who engages in it in order to recover funds. If found guilty of fraudulent conveyance, an offender can be ordered to pay both the amount of money owed as well as additional fines. Furthermore, the offender may also face criminal charges. In order to prove fraudulent conveyance in a court of law, the state of Washington must prove that the conveyance was done with the express purpose of avoiding creditors. The state must also prove that the transfer was made after the creditor made a demand for payment, and that the transfer was done with the intent to keep the creditor from receiving payment. Asset protection laws in Washington exist to give creditors some assurance that their debts will be paid. Despite this, fraudulent conveyance is still a problem and is increasingly becoming a problem in the state of Washington. As such, it’s in everyone’s best interest to understand and abide by the laws concerning fraudulent conveyance.

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What is fraudulent conveyance?

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