You are here: / / Conveyance from Mother to Son Not Made in “Good Faith” and Therefore Was...
,

Conveyance from Mother to Son Not Made in “Good Faith” and Therefore Was Constructively Fraudulent

In a full-fledged opinion by Justice Tom, the First Department determined that a conveyance of an apartment from mother to son, after an arbitration award against the mother, was not done in “good faith” and therefore constituted a constructively fraudulent conveyance under Debtor and Creditor Law sections 273-a and 278:

The Debtor and Creditor Law identifies two indicia of “fair consideration” for conveyed property: the adequacy of what is given in exchange for it and “good faith.” With regard to value, § 272(a), governing a conveyance made in exchange for the property, provides for the receipt of something that is “a fair equivalent therefor,” and § 272(b), governing an antecedent debt or present advance, applicable herein, provides for an “amount not disproportionately small as compared with the value of the property.” * * *

“Fair consideration” under Debtor and Creditor Law § 272 is not only a matter of whether the amount given for the transferred property was a “fair equivalent” or “not disproportionately small,” which the parties vigorously dispute, but whether the transaction is made “in good faith,” an obligation that is imposed on both the transferor and the transferee … . The determination of whether such obligation has been met is one that rests on the circumstances of the individual matter … . Sardis v Frankel, 2014 NY Slip Op 00080, 1st Dept 1-7-14

 

You might also like
Although “Imprudent” in Hindsight, ​Insurer Did Not Breach Duty of Good Faith by Refusing to Offer a Settlement at the Policy Limit
QUESTIONS OF FACT WHETHER PLAINTIFF-NURSE WHO WAS ASSAULTED BY A PATIENT WAS A THIRD-PARTY BENEFICIARY OF THE SECURITY-COMPANY CONTRACT AND WHETHER PLAINTIFF DETRIMENTALLY RELIED UPON A SECURITY GUARD’S PROMISE TO RESPOND TO HER CALL FOR HELP (FIRST DEPT).
PLAINTIFF BICYCLIST WAS ENTITLED TO SUMMARY JUDGMENT IN THIS TRUCK-BICYCLE COLLISION CASE; THE TRUCK DRIVER BREACHED HIS DUTY TO SEE WHAT SHOULD BE SEEN (FIRST DEPT).
Unsafe Access to Roof Supported Summary Judgment
YESHIVA UNIVERSITY NO LONGER HAS THE REQUISITE CONNECTION TO RELIGION AND THEREFORE IS NOT EXEMPT FROM THE DISCRIMINATION PROHIBITIONS IN THE NYC HUMAN RIGHTS LAW; THE PRIDE ALLIANCE WAS ENTITLED TO RECOGNITION AS AN OFFICIAL STUDENT ORGANIZATION (FIRST DEPT).
THE JURORS IN THIS ATTEMPTED ROBBERY CASE SAW AN INTERNET VIDEO OF DEFENDANT’S CODEFENDANT VIOLENTLY CAUSING A MAN’S DEATH; THE VIDEO HAD NOT BE INTRODUCED OR MENTIONED AT TRIAL; SUPREME COURT SHOULD HAVE GRANTED THE MOTION TO SET ASIDE THE VERDICT (FIRST DEPT). ​
BUS DRIVER REACTED TO AN EMERGENCY, NOT LIABLE FOR SUDDENLY APPLYING THE BRAKES (FIRST DEPT).
LABOR LAW 200, 241(6) AND COMMON LAW NEGLIGENCE CAUSES OF ACTION PROPERLY SURVIVED SUMMARY JUDGMENT IN THIS WORKPLACE SLIP AND FALL CASE (FIRST DEPT).

Categories

Sign Up for the Mailing List to Be Notified When the Site Is Updated.

  • This field is for validation purposes and should be left unchanged.

Copyright © 2025 New York Appellate Digest, Inc.
Site by CurlyHost | Privacy Policy

Decedent’s Divorce Did Not Invalidate Provisions of Her 1996 Will Which Made... Court Does Not Have the Power to Determine Whether Arbitrator Misinterpreted...