Arizona Laws 44-1009. Extinguishment of claim for relief
Current as of: 2024 | Check for updates
|
Other versions
A claim for relief with respect to a fraudulent transfer or obligation under this article is extinguished unless an action is brought:
Terms Used In Arizona Laws 44-1009
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured. See Arizona Laws 44-1001
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset and includes payment of money, release, lease and creation of a lien or other encumbrance. See Arizona Laws 44-1001
1. Under section 44-1004, subsection A, paragraph 1 within four years after the transfer was made or the obligation was incurred or, if later, within one year after the fraudulent nature of the transfer or obligation was or through the exercise of reasonable diligence could have been discovered by the claimant.
2. Under section 44-1004, subsection A, paragraph 2 or section 44-1005, within four years after the transfer was made or the obligation was incurred.