Monday, July 24, 2017
Bankruptcy: Voluntary Conveyance - Debtor's Inheritance
In the case of Shaia v. Meyer, the United States Bankruptcy Court, Eastern District of Virginia, Richmond Division, Judge Tice ruled that a bankruptcy trustee may recover funds a debtor inherited from his father and used to pay off two mortgages on property the debtor owned with his wife in a tenancy by the entirety. Essentially, the Court ruled that the debtor's payments constituted a voluntary or fraudulent conveyance that could be recovered by the bankruptcy estate.
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