Uniform Fraudulent Transfer Act (UFTA)
USA
A model Act adopted in 1984 to replace the Uniform Fraudulent Conveyance Act (UFCA). The UFTA has been enacted in 44 jurisdictions, including Delaware. While there are certain differences, both the UFTA and the UFCA 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.