A cause of action with respect to a fraudulent transfer or obligation under this part is extinguished unless action is brought:

(1) Under § 66-3-305(a)(1), within four (4) years after the transfer was made or the obligation was incurred or, if later, within one (1) year after the transfer or obligation was or could reasonably have been discovered by the claimant;

Terms Used In Tennessee Code 66-3-310

  • 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.
  • Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Tennessee Code 66-3-302
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(2) Under § 66-3-305(a)(2) or § 66-3-306(a), within four (4) years after the transfer was made or the obligation was incurred; or
(3) Under § 66-3-306(b), within four (4) years after the transfer was made or the obligation was incurred.
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