Fraudulent Conveyance Legal Meaning and Definition

Here is a simplified definition of the legal term Fraudulent Conveyance.

Fraudulent Conveyance (noun): This term refers to the act of intentionally transferring ownership of property or assets to another party to prevent a creditor from accessing them for the repayment of a debt. For instance, a person might sell their house to a friend at a low price to avoid losing it in a lawsuit brought on by a creditor seeking their unpaid dues.