If X had transfered his House to his Daughter (major,unmarried) b4 filing for bankrupcy....can the Reciever claim that House on behalf of the Banks frm whom X had taken Loans?????
Pls reply, its Urgent...
Sonia Verma (state govt employee) (347 Points)
26 December 2008If X had transfered his House to his Daughter (major,unmarried) b4 filing for bankrupcy....can the Reciever claim that House on behalf of the Banks frm whom X had taken Loans?????
Pls reply, its Urgent...
CA Tilak Raj Sharma
(Practising CA in Solan (H.P.))
(6374 Points)
Replied 27 December 2008
I think Receiver can do so, if the house is transferred after the loan and X has applied for bankruptcy withing 6 months of transfer.
Binod Prasad
(Student CA Final )
(44 Points)
Replied 27 December 2008
The transfered property is subject to attachment and such transfers are not considered as transfer due to the fact that these are some of the tacktics applied by the Bankrupt to avoid attachment.
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