If you owe someone a debt and you attempt to avoid paying that debt by transferring your assets to a family member or another entity you control to try to keep it out of the reach of your creditors you may be violating the Texas Uniform Fraudulent Transfers Act (UFTA). UFTA is found in Chapter 24 of the Texas Business and Commerce Code.
Sec. 24.005 of UFTA covers transfers that are fraudulent as to present and future creditors. This section provides that a transfer made or obligation incurred by a debtor is fraudulent as to a creditor, regardless of whether the creditor’s claim arose before or within a reasonable time after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:
(1) with actual intent to hinder, delay, or defraud any creditor of the debtor; or (2) without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor: