Defined ~ Asset And Property
Site.Mainuvta0102definitionasset History
Hide minor edits - Show changes to markup
- 2015.11.27 ... Silver Bars
- 2015.11.27 ... Silver Bars and Fraudulent Transfers in Rego Group
ARTICLES ON ASSET
- 2021.10.21 ... Residence Underwater Due To Liens Not An Asset That Could Be Fraudulently Transferred In Tootian
- 2020.06.11 ... Bank That Was Financially Involved With Debtor Gets Caught Up In Fraudulent Transfer Case In Wilson
- 2019.10.19 ... Texas Homestead Gets Constitutional Protection From Fraudulent Transfer Claim In Lapides
- 2018.04.22 ... State And Federal Fraudulent Transfer Law Diverge Over Exempt Property In Vorhes
- 2017.01.18 ... Fraudulent Transfer Law Trumps Tenancy By The Entireties In Knoll
- 2016.07.30 … Fraudulent Transfer Defeats Tenancy By The Entireties Protection Of Sarasota Home In Major
- 2015.11.27 ... Silver Bars
(i) property to the extent it is encumbered by a valid lien;
(ii) property to the extent it is generally exempt under nonbankruptcy law; or
(iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
§1(12) “Property” means anything that may be the subject of ownership.
§1(12) “Property” means anything that may be the subject of ownership.
#definedassset
#definedproperty
#definedassset]
#definedproperty
(i) property to the extent it is encumbered by a valid lien;
(ii) property to the extent it is generally exempt under nonbankruptcy law; or
(iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
(i) property to the extent it is encumbered by a valid lien;
(ii) property to the extent it is generally exempt under nonbankruptcy law; or
(iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
§1(2) “Asset” means property of a debtor, but the term does not include:
§1(2) “Asset” means property of a debtor, but the term does not include:
§1(2) “Asset” means property of a debtor, but the term does not include:+
(i) property to the extent it is encumbered by a valid lien;+
(ii) property to the extent it is generally exempt under nonbankruptcy law; or+
(iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.+
§1(2) “Asset” means property of a debtor, but the term does not include:
(i) property to the extent it is encumbered by a valid lien;
(ii) property to the extent it is generally exempt under nonbankruptcy law; or
(iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
§1(2) “Asset” means property of a debtor, but the term does not include:
(i) property to the extent it is encumbered by a valid lien;
(ii) property to the extent it is generally exempt under nonbankruptcy law; or
(iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
§1(2) “Asset” means property of a debtor, but the term does not include:+
(i) property to the extent it is encumbered by a valid lien;+
(ii) property to the extent it is generally exempt under nonbankruptcy law; or+
(iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.+
- The definition of an "asset" is very expansive and encompasses literally any asset that could be defined as "property", under Section 1(12), with three exceptions:(1) Property subject to a bona fide security interest;(2) Exempt property; and(3) TBE property, so long as both parties are not debtors.
- In re Tootian (Goldman v. Dardashti), 2021 WL 4558290 (C.D.Cal., Oct. 5, 2021).
- Shah v. Blaloch, 2017 WL 4543694 (Az.App., 2017)
- Knoll v. Uku, 2017 WL 117655 (Pa., 2017).U.S. v. Major, 551 B.R. 531 (M.D.Fla., 2016).
- Reporter's Comment to § 1(2) ¶ 1.
TEXT OPINIONS
(:pagelist link=Category.TEXT list=normal fmt=title:)
ASSET OPINIONS
(:pagelist link=Category.Asset list=normal fmt=title:)
PROPERTY OPINIONS
(:pagelist link=Category.Property list=normal fmt=title:)
(:title Defined ~ Asset And Property:)
(:Summary: Defined ~ Asset And Property:)
(:description Defined ~ Asset And Property:)
(:keywords voidable transaction, uvta, fraudulent transfer, ufta, fraudulent conveyance, asset, property, definition:)
(:linebreaks:)
Asset Property Definition Mainuvta0102definitionasset
''ASSET" AND "PROPERTY" DEFINED
"ASSET" DEFINED
§1(2) “Asset” means property of a debtor, but the term does not include:
(i) property to the extent it is encumbered by a valid lien;
(ii) property to the extent it is generally exempt under nonbankruptcy law; or
(iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
- Reporter's Comment to § 1(2) ¶ 1.The definition of “asset” is substantially to the same effect as the definition of “assets” in § 1 of the Uniform Fraudulent Conveyance Act.The definition in this Act, unlike that in the earlier Act, does not, however, require a determination that the property is liable for the debts of the debtor.Thus, for example, an unliquidated claim for damages resulting from personal injury or a contingent claim of a surety for reimbursement, subrogation, restitution, contribution, or the like may be counted as an asset for the purpose of determining whether the holder of the claim is solvent as a debtor under § 2 of this Act, even if applicable law does not allow such an asset to be levied on and sold by a creditor. Cf. Manufacturers & Traders Trust Co. v. Goldman (In re Ollag Construction Equipment Corp.), 578 F.2d 904, 907-09 (2d Cir. 1978).
"PROPERTY" DEFINED
§1(12) “Property” means anything that may be the subject of ownership.
TEXT OPINIONS
(:pagelist link=Category.TEXT list=normal fmt=title:)