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During the 6-month period following June 6, 1991, Mr. Fisher
completely paid off the REFI loan secured by the mortgage. The
total amount Mr. Fisher paid during this period was $55,929.57.16
As each payment was made by Mr. Fisher on the loan, the mortgage
lien was correspondingly reduced, and petitioners realized a
proportionate increase in their equity in the property. Under
FUFTA, a transfer is broadly defined as including "every mode,
direct or indirect, absolute or conditional, voluntary or
involuntary, of disposing of or parting with an asset or an
interest in an asset, and includes payment of money, release,
lease, and creation of a lien or other encumbrance." Fla. Stat.
Ann. sec. 726.102(12) (West 1988). Each payment made by Mr.
Fisher on the loan satisfies the broad definition of a "transfer"
under Florida law. Petitioners did not pay any consideration for
the release of this encumbrance. Based upon our reasoning
regarding the transfer of the real property itself, we find that
these transfers were made with the same fraudulent intent. See
supra pp. 11-12. Therefore, we find that petitioners received
transfers with a total value of $55,929.57, by way of Mr.
Fisher's payment of the REFI loan.
16The difference between the balance of the unpaid principal
of the loan as of June 6, 1991, in the amount of $51,871, and the
total amount paid by Mr. Fisher over the 6-month period following
the transfer on June 6, 1991, of $55,929.57, was due to interest
and other charges accruing on the loan.
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