virginia fraudulent conveyance statute of limitations

#VIRGINIA FRAUDULENT CONVEYANCE STATUTE OF LIMITATIONS HOW TO#

The defence responded with a summary judgment motion of its own, seeking a dismissal of the action based on the expiry of the limitation period. The plaintiff then brought a motion for summary judgment. The Plaintiff commenced an action to reverse the transfer of title to the property in May 2019. The house had a fair market value of $2.625 million at the time of the transfer but was sold for only two dollars. At the time of the transfer, the defendant owed money to several parties, including the plaintiff. On searching the title to the defendant’s home the plaintiff discovered that it had been transferred from the defendant to his spouse in September 2015. The plaintiff prepared to collect and arranged an Examination in Aid of Execution to assess the defendant’s assets.

The plaintiff sued in January 2018 for the balance and the parties eventually agreed to a consent judgment for $47,727.56 plus costs of $14,000. The parties settled but the defendant client did not make all the required payments. The plaintiff, a lawyer and creditor, was owed money from his client for whom he had provided legal representation before the Ontario Securities Commission (OSC).

Debtor Transfers Property to Spouse for Nominal Amount

#VIRGINIA FRAUDULENT CONVEYANCE STATUTE OF LIMITATIONS HOW TO#

Drabinsky is a summary judgment decision from the Ontario Superior Court (ONSC) with guidance for creditors on how to approach issues relating to discoverability and limitation periods if they suspect their debtors’ real property has been fraudulently conveyed.

Virginia fraudulent conveyance statute of limitations