Issue: What constitutes a ‘transfer’ under the Minnesota Fraudulent Transfers Act?
|Area of Law:||Bankruptcy & Creditors Rights|
|Keywords:||Transfer; Fraudulent Transfers Act|
|Cited Statutes:||Minn. Stat. § 513.41(12)|
A “transfer” is broadly defined in the statute as every mode, direct or indirect, absolute or conditional, of disposing of or parting with an asset or an interest in an asset, including the creation of a lien or other encumbrance. Minn. Stat. § 513.41(12). See also Bank Midwest, Minn., Iowa, N.A. v. Lipetzky, 674 N.W.2d 176 (Minn. 2004) (suggesting that a “transfer” includes a mortgage).