A fraudulent conveyance is the transfer (conveyance) of title to real property for the express purpose of putting it beyond the reach of a known creditor. In such a case, the creditor may bring a lawsuit to void the transfer.
...bankruptcy
fraudulent transfer
Fraudulent transfer or conveyance, in a bankruptcy case, means a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee; for instance, when a debtor signs a car...
garnish
Garnishment is a legal process that allows a third party to seize assets of a debtor. For example, a creditor, who can be a winning party in a suit or a creditor in a bankruptcy case, can acquire the wage of the debtorthrough the...
garnishee
In a garnishment proceeding, if the court rules for the plaintiff-creditor, the defendant-debtor’s asset under a third-party’s control will be garnished. The third party here is called a garnishee, and the plaintiff is a garnishor....
garnishment
Garnishment refers to a court ordered process for collecting on a judgment, which takes money directly from the defendant’s wages or other third party who owes the defendant a debt. A garnishment order instructs a third-party who owes money...
homestead exemption
A homestead is a house, outbuildings and adjoining land owned by a person or a family and used as a residence.
A homestead exemption is a legal provision that prevents creditors from being paid off from a debtor's homestead...
householder
A householder is the person responsible for providing a livelihood for a household. A householder is also a tenant or holder of any residential premises (whether alone or with others) who habitually uses such residential premises on a daily...
housekeeper
A housekeeper is a person who occupies a house. In other words, a housekeeper is in actual possession of a house and must occupy the whole house.
[Last updated in June of 2022 by the Wex Definitions Team]
jingle rule
Under common law, in determining the extent to which partnership creditors whose debts are not fully satisfied by partnership property can assert claims to the assets of individual partners, the jingle rule gave partnership creditors priority...
means test
The means test, which is the Chapter 7 means test, is a formula that uses in bankruptcy law to decide if the debtor is eligible for Chapter 7 bankruptcy. If the debtor fails the means test, the debtor can only apply for Chapter 13 bankruptcy. The...