Current as of January 01, 2021 | Updated by FindLaw Staff
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1. Where a conveyance or obligation is fraudulent as to a creditor, such creditor, when his claim has matured, may, as against any person except a purchaser for fair consideration without knowledge of the fraud at the time of the purchase, or one who has derived title immediately or mediately from such a purchaser,
a. Have the conveyance set aside or obligation annulled to the extent necessary to satisfy his claim, or
b. Disregard the conveyance and attach or levy execution upon the property conveyed.
2. A purchaser who without actual fraudulent intent has given less than a fair consideration for the conveyance or obligation, may retain the property or obligation as security for repayment.
Cite this article: FindLaw.com - New York Consolidated Laws, Debtor and Creditor Law - DCD § 278. Rights of creditors whose claims have matured - last updated January 01, 2021 | https://codes.findlaw.com/ny/debtor-and-creditor-law/dcd-sect-278/
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