§ 740 ILCS 160/1 This Act shall be known and may be cited as the Uniform Fraudulent …
§ 740 ILCS 160/2 As used in this Act: (a) “Affiliate” …
§ 740 ILCS 160/3 (a) A debtor is insolvent if the sum of the debtor’s debts is greater …
§ 740 ILCS 160/4 (a) Value is given for a transfer or an obligation if, in exchange …
§ 740 ILCS 160/5 (a) A transfer made or obligation incurred by a debtor is fraudulent …
§ 740 ILCS 160/6 (a) A transfer made or obligation incurred by a debtor is fraudulent …
§ 740 ILCS 160/7 For the purposes of this Act: (a) a …
§ 740 ILCS 160/8 (a) In an action for relief against a transfer or obligation under …
§ 740 ILCS 160/9 (a) A transfer or obligation is not voidable under paragraph (1) of …
§ 740 ILCS 160/10 A cause of action with respect to a fraudulent transfer or obligation …
§ 740 ILCS 160/11 Unless displaced by the provisions of this Act, the principles of law …
§ 740 ILCS 160/12 This Act shall be applied and construed to effectuate its general …

Terms Used In Illinois Compiled Statutes > 740 ILCS 160 - Uniform Fraudulent Transfer Act

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fiduciary: A trustee, executor, or administrator.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC