Bankruptcy Glossary

Bankruptcy Law Terms -F-

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #

• Final discharge

• Foreclosure

• Fraudulent transfer or conveyance

Glossary of Bankruptcy Law Terms

Legal Glossaries Index Page

Final discharge: Extinguishing the debtor's personal liability on certain debts, through the granting of a permanent injunction protecting the debtor from efforts to collect such debts as a personal liability. 

Foreclosure: Foreclosure occurs when a property owner has defaulted on a mortgage or installment agreement the process of a mortgagor or other holder of an encumbrance on the debtor's property, seizes and sells the property to pay off the debt.

Fraudulent transfer or conveyance: a debtor's conveyance or transfer of an asset, without adequate consideration, primarily for the purpose of concealing it from his creditors or the bankruptcy estate.