The question
Try THIS One, keeping in mind, that California is a "Race/Notice" State
The Property Owner (Bona Fide Purchaser, or BFP), gets ripped off by the Debtor, who steals the property from them, then deeds it to him/herself, thus constituting a "Fraudulent Transfer".
Then, the Debtor takes out a loan (Obligation) with the Creditor for their OWN benefit, but based on the BFP Prior Recorded Deed, the Creditor would have had "Notice" of the True Ownership before they approved the loan; But then the Debtor Dies, leaving the True Owner with the Debt the Owner isn't responsible for
Now Here's the REAL TRICKY part: the Fraudulent Transfer was done on March 10, 2005, But the "Date of Obligation" that stemmed from IT, didn't occur until Feb 3rd, 2006, which was actually one month AFTER the "Date Of Discovery" by the BFP, of the Fraudulent Transfer.
So, based on the second example, excluding the Debtor's "Fraudulent Transfer" portion, if one were to file a Cause Of Action against the Creditor, based Solely on The "Date Of Obligation" portion, where the Statute would NOT run until Feb 3rd, 2013, WOULD THAT WORK under this Provision, to move forward on??
From the LawyerCentral forum archive. Originally posted 15 October 2012 on a legal forum that has closed. Names and contact details were removed. See the original (Internet Archive).
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