Person A and person B were married and owned real estate. We had a judgment and FiFa against Person A. Less than a year after issue, Person A quit-claimed the real estate to Person B (by the way, no other liens).
Person B then executes a warranty deed to Person C (a relative).
FiFa was issued in 1996. The appropriate renewals were properly done in 2003 and 2010.
The quit claim was executed in 1997.
The warranty deed was executed from Person B to Person C in 2001.
Is there a statute of limitation to bring an action in this matter, and if not, what is the actual cause of action to restore the title to Person A in order to execute the FiFa, or can the FiFa still be executed against the real estate after the title has transferred ?
Your statute of limitations has expired. OCGA 18-2-79.
A cause of action with respect to a fraudulent transfer or obligation under this article is extinguished unless action is brought:
(1) Under paragraph (1) of subsection (a) of Code Section 18-2-74, within four years after the transfer was made or the obligation was incurred or, if later, within one year after the transfer or obligation was or could reasonably have been discovered by the claimant;
(2) Under paragraph (2) of subsection (a) of Code Section 18-2-74 or subsection (a) of Code Section 18-2-75, within four years after the transfer was made or the obligation was incurred; or
(3) Under subsection (b) of Code Section 18-2-75, within one year after the transfer was made or the obligation was incurred.
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Corporate / Incorporation Lawyer
The cause of action would likely be for a "fraudulent conveyance" with an allegation that the transfer was intended to hinder your collection actions. I'm not sure of the statutue of limitations on such action, but if the transaction occured in 1997, I doubt the statute of limitations would be as long as 15 years. In addition to a statue of limitations defense (and in additon to any other defenses), the defendant would have the defense of "latches," which is basically saying that you waited too long to excercise your rights.
[This communication is intended as general information and not specific legal advice, and this communication does not create an attorney-client relationship.]
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