Vince Turner Attorney At Law
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132 Avenue E Sw | Winter Haven, 33880
Last time updated: 2/9/23, 4:21 AM
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Over 20 Years Of Experience!! Personal Service with a Local Attorney.The Bankruptcy Code contains a number of provisions empowering the trustee, the debtor, or both to avoid various types of liens and other prebankruptcy transfers of the debtor's property. The Bankruptcy Code definition of ''transfer'' includes creation of a lien. The Bankruptcy Code allows the trustee or debtor to nullify or undo prior transactions in order to promote the dual bankruptcy policies of equity among creditors and a fresh start for debtors. The effect of the avoiding power is to take property or a property interest from a creditor. Sometimes the effect of the avoiding power is to take property or a property interest from another party who may have acquired it in a manner that was perfectly valid absent the bankruptcy. That property or property interest is then made part of the bankruptcy estate available to all unsecured creditors on an equal basis. Alternatively, in some cases, the property is returned to an individual debtor as part of the exempt property, which may be retained in order to foster his or her fresh start.

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