What is the difference between fraudulent transfer and fraudulent conveyance?

Fraudulent transfer and fraudulent conveyance are two terms used in asset protection law in Washington. Both terms refer to an act of transferring or conveying assets in order to reduce the value of the asset and make it less available to creditors or other claimants. The main difference between fraudulent transfer and fraudulent conveyance lies in the intent of the transfer or conveyance. A fraudulent transfer is the intentional transfer of an asset with the goal of intentionally depriving creditors or other claimants of the asset or the asset’s value. A fraudulent conveyance is a transfer or conveyance of an asset with the goal of hiding or concealing the asset’s value from creditors or other claimants. In Washington, fraudulent transfer and fraudulent conveyance are considered civil offenses. Generally, the intent of the transferring or conveying party will be the determining factor in deciding whether or not the transaction is a fraudulent transfer or fraudulent conveyance. The burden of proof rests on the creditor making the claim that the transfer was fraudulent in nature. The civil courts will then weigh evidence, testimony, and other facts to determine if the transfer was fraudulent or not. Both fraudulent transfer and fraudulent conveyance are serious matters in Washington and can have significant legal consequences if the transfer is found to be fraudulent. It is important to seek legal counsel when considering any transfers or conveyances of assets in order to ensure compliance with applicable laws.

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What is the difference between fraudulent transfer and fraudulent conveyance?

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