Chapter 726 — Chapter 726
13 sections in this chapter.
Fla. Stat. § 726.101 Short title
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This act may be cited as the “Uniform Fraudulent Transfer Act.”
Fla. Stat. § 726.102 Definitions
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As used in ss. 726.101-726.112:(1) “Affiliate” means:(a) A person who directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than a person who holds the securities:1. As a fiduciary or agent…
Fla. Stat. § 726.103 Insolvency
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(1) A debtor is insolvent if the sum of the debtor’s debts is greater than all of the debtor’s assets at a fair valuation.(2) A debtor who is generally not paying his or her debts as they become due is presumed to be insolvent.(3) A partnership is insolvent under subsection (1) i…
Fla. Stat. § 726.104 Value
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(1) Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s…
Fla. Stat. § 726.105 Transfers fraudulent as to present and future creditors
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(1) 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 hin…
Fla. Stat. § 726.106 Transfers fraudulent as to present creditors
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(1) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchan…
Fla. Stat. § 726.107 When transfer made or obligation incurred
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For the purposes of ss. 726.101-726.112:(1) A transfer is made:(a) With respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a goo…
Fla. Stat. § 726.108 Remedies of creditors
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(1) In an action for relief against a transfer or obligation under ss. 726.101-726.112, a creditor, subject to the limitations in s. 726.109 may obtain:(a) Avoidance of the transfer or obligation to the extent necessary to satisfy the creditor’s claim;(b) An attachment or other p…
Fla. Stat. § 726.109 Defenses, liability, and protection of transferee
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(1) A transfer or obligation is not voidable under s. 726.105(1)(a) against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.(2) Except as otherwise provided in this section, to the extent a transfer is voidable…
Fla. Stat. § 726.110 Extinguishment of cause of action
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A cause of action with respect to a fraudulent transfer or obligation under ss. 726.101-726.112 is extinguished unless action is brought:(1) Under s. 726.105(1)(a), within 4 years after the transfer was made or the obligation was incurred or, if later, within 1 year after the tra…
Fla. Stat. § 726.111 Supplementary provisions
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Unless displaced by the provisions of ss. 726.101-726.112, the principles of law and equity, including the law merchant and the law relating to principal and agent, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency, or other validating or invalidat…
Fla. Stat. § 726.112 Uniformity of application and construction
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Chapter 87-79, Laws of Florida, shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of the law among states enacting it.
Fla. Stat. § 726.201 Fraudulent loans void
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When any loan of goods and chattels shall be pretended to have been made to any person with whom or those claiming under her or him, possession shall have remained for the space of 2 years without demand and pursued by due process of law on the part of the pretended lender, or wh…