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Fla. Stat. sec. 726.106(1) provides that a transfer is fraudulent
as to a creditor if the transferor is or, as a result of the
transfer, will become insolvent and the transferor does not
receive fair consideration in return.5 In pertinent part, for
purposes of the UFTA, the term “insolvency” is defined as
follows:
(1) A debtor is insolvent if the sum of the
debtor’s debts is greater than all of the debtor’s
assets at fair valuation.
(2) A debtor who is generally not paying his or her
debts as they become due is presumed to be
insolvent.
Fla. Stat. sec. 726.103. Under the UFTA, if a transfer is
fraudulent as to a creditor, the creditor may, among other
remedies (1) obtain avoidance of the transfer to the extent
4(...continued)
determining actual intent under subsec. (1)(a) thereof. We
describe and discuss some of those factors infra in sec.
IV.D.3.b.
Since respondent does not rely on Fla. Stat. sec.
726.105(1)(b)1., we disregard it in the discussion that follows.
5 Fla. Stat. sec. 726.106 is entitled “Transfers fraudulent
as to present creditors”. Subsec. (1) thereof provides as
follows:
(1) A transfer made or obligation incurred by a
debtor is fraudulent as to a creditor whose claim arose
before the transfer was made or the obligation was
incurred if the debtor made the transfer or incurred
the obligation without receiving a reasonably
equivalent value in exchange for the transfer or
obligation and the debtor was insolvent at that time or
the debtor became insolvent as a result of the transfer
or obligation.
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Last modified: May 25, 2011