QUESTION
What implications can there be if his assets are starting to be transferred to the son?
Asked on Jun 15th, 2014 on Estate Planning - Oregon
More details to this question:
I have a note from a step-father (mother passed away). The step father is close to his son and has been making some transactions that resulted in real estate transfers. He has sufficient assets now to cover the note. We discovered the sale of the real estate by accident.
1 ANSWER
The implication is that your debtor is making himself poorer. If the transfers make him insolvent they are voidable as fraudulent transfers; but, you must move quickly to make your claim.
Answered on Jun 18th, 2014 at 8:13 PM