Section 555.8 - Payment of consideration for conveyance to another; presumption as fraudulent; resulting trust for creditors of payee. - Michigan Statutes

Revised Statutes of 1846 (EXCERPT)
USES AND TRUSTS.

555.8 Payment of consideration for conveyance to another; presumption as fraudulent; resulting trust for creditors of payee.

Sec. 8.

Every such conveyance shall be presumed fraudulent, as against the creditors of the person paying the consideration; and when a fraudulent intent is not disproved, a trust shall result in favor of such creditors, to the extent that may be necessary to satisfy their just demands.

History: R.S. 1846, Ch. 63 ;-- CL 1857, 2638 ;-- CL 1871, 4121 ;-- How. 5570 ;-- CL 1897, 8836 ;-- CL 1915, 11572 ;-- CL 1929, 12974 ;-- CL 1948, 555.8