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Texas Business & Commerce Code - Chapter 24 Uniform Fraudulent Transfer ActLegal Research Home > Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Chapter 24 Uniform Fraudulent Transfer Act This chapter may be cited as the Uniform Fraudulent Transfer Act. Amended by Acts 1987, 70th Leg., ch. 1004, § 1, eff. Sept. 1, 1987. ... In this chapter: (1) "Affiliate" means: (A) a person who directly or indirectly owns, controls, or holds with power to vote, 20 percent or more ... (a) A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's assets at a fair valuation. (b) ... (a) Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt ... (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or within a ... (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or ... For the purposes of this chapter: (1) a transfer is made: (A) with respect to an asset that is real property other than a fixture, ... (a) In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in Section 24.009 of this ... (a) A transfer or obligation is not voidable under Section 24.005(a)(1) of this code against a person who took in good faith and for a ... (a) Except as provided by Subsection (b) of this section, a cause of action with respect to a fraudulent transfer or obligation under this chapter ... Unless displaced by the provisions of this chapter, the principles of law and equity, including the law merchant and the law relating to principal and ... This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter ... In any proceeding under this chapter, the court may award costs and reasonable attorney's fees as are equitable and just. Added by Acts 2003, 78th ... Texas Lawyers
Last modified: August 10, 2007 |