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20.010 Debtor and Creditor; Acts Void as Against Creditors; Examples
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Description
20.010 Debtor and Creditor; Acts Void as Against Creditors; Examples The following acts by debtors shall be fraudulent in law against creditors and others, and as to them null and void: a. every assignment or transfer by a debtor, insolvent at the time, of real or personal property or choses in action of any description to any person, either in trust or for the benefit of or on behalf of creditors, where any trust or benefit is reserved to the assignor or any person for him; b. every conveyance of real or personal estate, by writing or otherwise, and every bond, suit, judgment, and execution or contract of any description had or made with intention to delay or defraud creditors and such intention known to the party taking shall be fraudulent in law as to creditors, and as to them null and void. A bona fide transaction on a valuable consideration and without notice or ground for reasonable suspicion shall be valid; and c. every voluntary deed or conveyance, not for valuable consideration, made by a debtor who is insolvent at the time of the conveyance. O.C.G.A. §18-2-22 (acts before 7/1/2002)
