25:2-25 - Transfers fraudulent as to present and future creditors - New Jersey Statutes

25:2-25.     Transfers fraudulent as to present and future creditors
     A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:

    a.   With actual intent to hinder, delay, or defraud any creditor of the debtor; or

    b.   Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor:

    (1)  Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or

    (2)  Intended to incur, or believed or reasonably should have believed that the debtor would incur, debts beyond the debtor's ability to pay as they become due. Source: R.S. 25:2-11; R.S. 25:2-12; R.S. 25:2-13.

    L. 1988, c. 74, s. 1.