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ARTICLE · 29 JULY 2014

Goodbye UFTA, Hello UVTA

Stites & Harbison PLLC
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If you’re in the business of what the original Statute of Elizabeth called "the avoiding of feigned, covinous and fraudulent feoffments," and if you’re in one of the 25 states currently utlizing the Uniform Fraudulent Transfer Act, ...

United StatesInsolvency/Bankruptcy/Re-Structuring
Stites & Harbison PLLC
Stites & Harbison PLLC
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If you're in the business of what the original Statute of Elizabeth called "the avoiding of feigned, covinous and fraudulent feoffments," and if you're in one of the 25 states currently utlizing the Uniform Fraudulent Transfer Act, you're likely to be doing so using the newly titled Uniform Voidable Transactions Act very soon.  In mid-July, the National Conference of Commissioners on Uniform State Laws approved its final draft of the new statute, and a blackline comparing the new UVTA to the current UFTA is linked here.

The preface to the 2014 amendments indicates that the Commissioners did not intend this to be a comprehensive overhaul, but rather a revision targetting some very specific areas.  Some of the key areas are:

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