Section 566.45 – Short Title; Applicable Provisions.
566.45 Short title; applicable provisions. Sec. 15. (1) This act, which was formerly known and cited as the “uniform fraudulent transfer act”, shall be known and may be cited as the “uniform voidable transactions act”. (2) All of the following apply to sections 1 to 13 as amended, and to section 14 and this section […]
Section 566.101 – Conveyance With Intent to Defraud; Invalidity.
566.101 Conveyance with intent to defraud; invalidity. Sec. 1. Every conveyance of any estate or interest in lands, or the rents and profits of lands, and every charge upon lands or upon the rents and profits thereof, made or created with intent to defraud prior or subsequent purchasers for a valuable consideration, of the same […]
Section 566.102 – Notice of Prior Conveyance; Effect.
566.102 Notice of prior conveyance; effect. Sec. 2. No such conveyance or charge shall be deemed fraudulent, in favor of a subsequent purchaser, who shall have actual or legal notice of the prior conveyance or charge, at the time of his purchase, unless it shall appear that the grantee in such prior conveyance, or person […]
Section 566.103 – Conveyance Reserving Powers of Revocation or Alteration; Invalidity.
566.103 Conveyance reserving powers of revocation or alteration; invalidity. Sec. 3. Every conveyance or charge of, or upon, any estate or interest in lands, containing any provision for the revocation, determination or alteration of such estate or interest, or any part thereof, at the will of the grantor, shall be void, as against subsequent purchasers […]
Section 566.104 – Conveyance by Person Authorized to Revoke Grant; Validity.
566.104 Conveyance by person authorized to revoke grant; validity. Sec. 4. When a power to revoke a conveyance of any lands, or the rents and profits thereof, and to re-convey the same, shall be given to any person, other than the grantor in such conveyance, and such person shall thereafter convey the same lands, rents […]
Section 566.105 – Conveyance Before Vesting of Power to Revoke; Validity.
566.105 Conveyance before vesting of power to revoke; validity. Sec. 5. If a conveyance to a purchaser, under either of the 2 last preceding sections, shall be made before the person making the same shall be entitled to execute his power of revocation, it shall nevertheless be valid, from the time the power of revocation […]
Section 566.106 – Statute of Frauds; Conveyance of Interest in Lands Other Than One Year Lease.
566.106 Statute of frauds; conveyance of interest in lands other than one year lease. Sec. 6. No estate or interest in lands, other than leases for a term not exceeding 1 year, nor any trust or power over or concerning lands, or in any manner relating thereto, shall hereafter be created, granted, assigned, surrendered or […]
Section 566.36 – Transfer as Perfected; Completion.
566.36 Transfer as perfected; completion. Sec. 6. (1) A transfer is made under this act when 1 of the following occurs: (a) With respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the […]
Section 566.37 – Action for Relief Against Transfer or Obligation; Right of Creditor to Execution on Asset or Proceeds.
566.37 Action for relief against transfer or obligation; right of creditor to execution on asset or proceeds. Sec. 7. (1) In an action for relief against a transfer or obligation under this act, a creditor, subject to the limitations in section 8, may obtain 1 or more of the following: (a) Avoidance of the transfer […]
Section 566.38 – Transfer or Obligation Not Voidable; Recovery of Judgment; Rights of Good-Faith Transferee or Oblige; Burden of Proof; Preponderance of Evidence as Standard of Proof.
566.38 Transfer or obligation not voidable; recovery of judgment; rights of good-faith transferee or oblige; burden of proof; preponderance of evidence as standard of proof. Sec. 8. (1) A transfer or obligation is not voidable under section 4(1)(a) against a person that took in good faith and for a reasonably equivalent value given the debtor […]