Legal Question in Civil Litigation in Michigan

UNIFORM FRAUDULENT TRANSFER ACT

566.34 Transfer with intent to defraud.

(1) A transfer made or obligation incurred by a debtor is fraudulent 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 in either of the following:

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

566.35 Transfer by debtor as fraud.

Sec. 5.

(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.

566.37 Action for relief against transfer or obligation; right of creditor to execution on asset or proceeds.

Sec. 7.

(1) In an action for relief against a transfer or obligation under this act, a creditor, subject to the limitations in section 8, may.................

(2) If a creditor has obtained a judgment on a claim against the debtor, the creditor, if the court so orders, may levy execution on the asset transferred or its proceeds.