Describe the transfer was solely without consideration

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Reference no: EM1348017

William Kranich, Jr., was the sole shareholder in the DuVal Finance Corporation (DFC). On November 10, Kranich filed a voluntary petition for a relief under, on the next January 6, DFC too filed a voluntary petition under Ch. Before the commencement of the Ch. Proceedings, Kranich conveyed his personal residence in Clearwater, Florida, to DFC. The transfer was solely without consideration. Shortly afterward DFC transferred the property to William Kranich III as well as June Elizabeth Kranich son and daughter as tenants in common. This transfer was moreover without consideration. The bankruptcy trustee brought suit to mend the property from the son as well as daughter on the grounds that the transfer was fraudulent. Could the trustee recuperate the property on the groups that its handover without consideration was fraudulent? Describe.

Reference no: EM1348017

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