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T O P I C R E V I E W
RHB
Posted - 20 November 2008 : 18:37:04 I'm just curious to know what the terms regarding a gift at undervalue means in real terms when it states that a person is deemed to be insolvent or that the gift led to their insolvency.
2 L A T E S T R E P L I E S (Newest First)
John
Posted - 20 November 2008 : 22:29:35 Hi
I've not come across this term before. By definition all gifts will be undervalue.
However a sale or transfer undervalue is where you have disposed of an asset prior to bankruptcy for less than it's true value thus removing the chance to direct funds towards your debts.
