§ 32-18-2-14 — Transfers voidable as to present and future creditors; debtor's actual intent; transfer made without receipt of equivalent value in exchange; factors in determining actual intent; creditor's burden of proof

Indiana § 32-18-2-14

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 18: INTERESTS OF CREDITORS IN PROPERTY
• Ch. 2: Uniform Fraudulent Transfer Act

Text

(a) A transfer made or an obligation incurred
by a debtor is voidable 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:
(1) with actual intent to hinder, delay, or defraud any creditor of
the debtor; or
(2) without receiving a reasonably equivalent value in exchange
for the transfer or obligation, and the debtor:
(A) was engaged or was about to engage in a business or a
transaction for which the remaining assets of the debtor were
unreasonably small in relation to the business or transaction; or
(B) intended to incur or believed or reasonably should have
believed that the debtor would incur debts beyond the debtor's
ability to pay as the debts became due.
(b) In determining actual intent under subsection (a)(1),
consideration may be given, among other factors, to whether:
(1) the debtor retained possession or control of the property
transferred after the transfer;
(2) the transfer or obligation was disclosed or concealed;
(3) before the transfer was made or the obligation was incurred,
the debtor had been sued or threatened with suit;
(4) the transfer was of substantially all the debtor's assets;
(5) the debtor absconded;
(6) the debtor removed or concealed assets;
(7) the value of the consideration received by the debtor was
reasonably equivalent to the value of the asset transferred or the
amount of the obligation incurred;
(8) the debtor was insolvent or became insolvent shortly after the
transfer was made or the obligation was incurred; and
(9) the transfer occurred shortly before or shortly after a
substantial debt was incurred.
(c) A creditor making a claim for relief under this section has the
burden of proving the elements of the claim for relief by a
preponderance of the evidence.
[Pre-2002 Recodification Citation: 32-2-7-14.]

Legislative History

As added by P.L.2-2002, SEC.3. Amended by P.L.61-2017, SEC.13.