How Can a Creditor Obtain a Previously Transferred Asset?How Can a Creditor Obtain a Previously Transferred Asset?
When is it possible for a creditor to get a previously transferred asset? This is a question that arises in many cases. While a creditor may have the right to seize assets in a bankruptcy, there are many exceptions. In some cases, the transfer of an asset is void, and the creditor may not be able to collect on it. If this is the case, the creditor should take temporary measures before pursuing an asset he or she wants.
There are two main ways for a creditor to get an asset that has been transferred. The first way is to get a money judgment against the debtor, which allows the creditor to seize the asset. Another way is to put the asset into receivership and liquidate it to pay off the creditors. Another way to avoid the risk of being sued is to transfer an asset in good faith to someone else. In some cases, a creditor can get an injunction and seize an asset after it has been transferred.
Secondly, the creditor can try to recover the asset from the party who transfer it. The debtor should have the right to challenge the transfer if they believe that the asset was transferred in fraud. The transfer of an asset is voidable if a creditor has a valid claim against the debtor. A judgment can help a creditor collect on an asset that is transferred fraudulently.