(a) No claim, including an action to enforce a judgment entered by a court or other body having adjudicative authority, by a creditor against property that is subject to a permitted transfer that arises after a permitted transfer and no claim by a creditor to avoid a permitted transfer shall be brought at law or in equity for attachment or other provisional remedy unless the permitted transfer was made with actual intent to defraud, hinder, or delay the creditor.
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Terms Used In Hawaii Revised Statutes 554G-8

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. See Hawaii Revised Statutes 554G-2
  • Creditor: means , with respect to a transferor, a person who has a claim. See Hawaii Revised Statutes 554G-2
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Permitted transfer: means a transfer of permitted property by or from one or more transferors who own an undivided interest in the property to one or more trustees, at least one of which is a permitted trustee, by means of a trust instrument, regardless of whether consideration is exchanged. See Hawaii Revised Statutes 554G-2
  • Person: means a natural person. See Hawaii Revised Statutes 554G-2
  • Transfer: means the disposition, conveyance, or assignment of property, including the change in the legal ownership of property occurring upon the substitution of one trustee for another or the addition of one or more new trustees, or the exercise of a power that causes the disposition, conveyance, or assignment of permitted property to a trustee or trustees, but shall not include the release or relinquishment of an interest in property that was formerly the subject of a permitted transfer. See Hawaii Revised Statutes 554G-2
  • Transferor: means :

    (1) An owner of permitted property;

    (2) The holder of a power of appointment that authorizes the holder to appoint in favor of the holder, the holder's creditors, the holder's estate, or the creditors of the holder's estate; or

    (3) A trustee who directly or indirectly makes a disposition of permitted property. See Hawaii Revised Statutes 554G-2

  • Trust instrument: means an irrevocable instrument appointing a permitted trustee or permitted trustees for the permitted property that is the subject of a disposition. See Hawaii Revised Statutes 554G-2
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by court. See Hawaii Revised Statutes 554G-2
(b) An allowable claim under subsection (a) shall be extinguished unless:

(1) The creditor’s claim arose before the permitted transfer was made and the action is brought within the limitations of § 651C-9 on the latter of the date of the permitted transfer or July 1, 2010; or
(2) Notwithstanding the provisions of § 651C-9, the creditor’s claim arose concurrent with or subsequent to the permitted transfer, and the action is brought within two years after the permitted transfer is made.
(c) In any action described in subsection (a), the burden to prove intent to defraud, hinder, or delay by clear and convincing evidence shall be upon the creditor.
(d) For purposes of this section, a permitted transfer that is made by a transferor who is a trustee shall be deemed to have been made as of the date that the property that is the subject of the permitted transfer was originally transferred via a trust instrument that meets the requirements of this chapter to the transferor or the transferor’s predecessor in interest.
(e) Notwithstanding any law to the contrary, a creditor or other person who purports to have a claim against property that is the subject of a permitted transfer shall have only the rights, with respect to a permitted transfer, as are provided in this section and §§ 554G-9 and 554G-10.
(f) No creditor or any other person shall have any claim or cause of action, including an action to enforce a judgment entered by a court or other body having adjudicative authority, against a trustee or advisor described in section 554G-4.5(a) or against any person involved in drafting, preparing, executing, or funding a trust or in counseling the parties to a trust that is the subject of a permitted transfer if, as of the date the action is brought, an action with respect to the permitted transfer would be barred under this section.

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