Uniform Fraudulent Conveyance Act (UFCA)
USA
A model Act adopted in 1918 to codify and bring uniformity to the common law of fraudulent conveyance. In many states it has been repealed and replaced with the Uniform Fraudulent Transfer Act (UFTA). The UFCA is still in effect in three jurisdictions, including New York. While there are certain differences, both the UFCA and the UFTA share the same underlying principle that title to assets conveyed to a third party for the purpose of placing such assets beyond the reach of creditors is fraudulent. Both statutes provide creditors with a remedy when debtors hide or transfer assets that would otherwise be available to satisfy legitimate debts.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.