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Best effort your business has suffered financial losses

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Despite your best effort your business has suffered financial losses the past three years. Your business is in debt $75,000 and you have personally guaranteed a business loan for $55,000. You plan to declare Chapter 7 bankruptcy in twelve months. To avoid losing your land in the Hill Country to pay debts, you immediately transfer ownership to your daughter. Could this action give rise to legal changes of fraud?

Reference no: EM133492332

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