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New Jersey Statutes Title 25. Frauds and Fraudulent Conveyances 25 § 2-25

Current as of January 01, 2024 | Updated by Findlaw Staff

a. A transfer made or obligation incurred by a debtor is voidable as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:

(1) With actual intent to hinder, delay, or defraud any creditor of the debtor; or

(2) Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor:

(a) Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or

(b) Intended to incur, or believed or reasonably should have believed that the debtor would incur, debts beyond the debtor's ability to pay as they become due.

b. A creditor making a claim for relief under subsection a. of this section has the burden of proving the elements of the claim for relief by a preponderance of the evidence.

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Cite this article: FindLaw.com - New Jersey Statutes Title 25. Frauds and Fraudulent Conveyances 25 § 2-25 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-25-frauds-and-fraudulent-conveyances/nj-st-sect-25-2-25/

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