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Can you summarize 66 TNCO Chapter 3?
Property > Fraudulent Conveyances and Devises
Short Summary
The provided legal document content consists of provisions from the Tennessee Code that govern fraudulent conveyances and devises, execution for the value of alienated lands, and the protection of bona fide purchasers. These provisions aim to ensure the proper handling of debts, protect creditors’ rights, and provide clarity on the rights and responsibilities of devisees and purchasers of lands. The provisions under fraudulent conveyances and devises state that any devises made to defraud creditors of their debts shall be null and void against such creditors. Creditors are allowed to maintain an action or suit against devisees, individually or jointly with the debtor and the debtor’s heirs. The provisions also address the liability of devisees for debts related to alienated lands and the lien of ancestor’s debts on devised or descended lands. The provisions under execution for the value of alienated lands establish the responsibility of devisees who sell or alienate lands devised to them for the debt to the value of the lands. Execution can be taken out upon the judgment or decree obtained against the devisee. The provisions also clarify the liability of heirs and the treatment of rents and profits from devised lands. The provisions related to the protection of bona fide purchasers state that lands genuinely aliened before any legal action shall not be liable to execution. The document provides guidance on various scenarios related to alienation of property and the payment of debts.
Whom does it apply to?
Persons who engage in fraudulent conveyances of lands, tenements, hereditaments, goods, chattels, or any rent, common, or profit out of them
What does it govern?
Conveyances made with the intent to delay, hinder, or defraud creditors or deceive purchasers
What are exemptions?
No exemptions are mentioned
What are the Penalties?
Penalties for fraudulent transfers may include avoidance of the transfer, recovery of the transferred property, and other remedies as determined by the court
Jurisdiction
Tennessee