Potential Consequences of Violating MN Uniform Transfers Act

These cases generally result in voidance of a transfer. The debtor will want to be careful in a transfer that may be questionable. In order to receive bankruptcy relief a debtor must act in good faith. If a transfer or transfers are particularly egregious, a judge may find the debtor lacks good faith and has in fact acted in bad faith. Thus, the debtor would not be able to seek relief via bankruptcy.

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