The Law Offices Of Christelle G. Clement 917-805-1158

Estate Planning Newsletter

Remedy for Fraudulent Transfers of Property

A constructive trust is a remedy imposed by a court when a person has wrongfully attained property in an inappropriate way. The court will undo the transaction and order that title to the property go to the rightful owner.

Types of Wrongful Conduct

Any wrongful activity that leads to the unfair obtainment of property may be cause for a constructive trust, including:

  • Fraud (including forgery)
  • Theft (including embezzlement)
  • Accident
  • Mistake
  • Undue influence
  • Violation of fiduciary duty (for example, where a partner purchases property in his own name rather than in the name of the partnership)

Factors

In order for a constructive trust to be created, the following factors must exist:

  • Fraudulent representations or concealment of important and material information, or breach of trust
  • Acts such as transfer of property as a result of the fraud or breach
  • Profit and/or unjust enrichment as a result of fraudulent representation or concealment of important and material information

Remedy Under Constructive Trusts

A constructive trust is imposed when an affected party initiates a lawsuit requesting relief. It typically provides that the property pass from the wrongful owner to the rightful owner.

However, if the unlawful owner has damaged or destroyed any of the property, the rightful owner is entitled to a money judgment for the value of the property.

  • The Uniform Transfers to Minors Act
    Minors have no legal capacity to manage property. Thus, transferring property and other assets to minors can be problematic. For example, parents or other adults may wish to convey a small amount of property to a minor without investing... Read more.
  • Legal Separation, Divorce & Inheritance
    Most people are aware that a surviving spouse is usually entitled to inherit all or a large portion of the estate of a deceased spouse. Fewer understand the effect on estates if one spouse dies during a legal separation or after a... Read more.
  • Estate Planning Under the HIPAA Privacy Rule
    The Health Insurance Portability and Accountability Act of 1996 (HIPAA) became effective on April 14, 2003. HIPAA establishes national standards for the protection of certain health information. The purpose of HIPAA is to ensure that a... Read more.
  • Tax Issues Related to Contaminated Property
    The Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) imposes liability for the investigation and cleanup of contaminated real property without regard to whether the landowner created or allowed the... Read more.
Estate Planning News Links

Estate Planning

Share This Page:

Law Offices of Christelle G. Clement is located in New York, NY and serves clients in and around New York, Long Island City, Brooklyn, Astoria, Sunnyside, Woodside, Maspeth, Middle Village, Jackson Heights, Bronx, Elmhurst, Ridgewood, East Elmhurst, Rego Park, Corona, Woodhaven, Jamaica, Bronx County, Kings County, New York County and Queens County.

Designed and Powered by NextClient

© 2015 - 2020 Law Offices of Christelle G. Clement. All rights reserved.
Theme WebExpress™ attorney website design by NextClient.com.