Under §547(b) of the Bankruptcy Code
, which governs Preferential Transfers, a Trustee
may avoid any transfer of interest of the debtor's property if all of the following conditions are met:
1) The transfer was for the benefit of a creditor;
2) For an antecedent debt owed before the transfer was made;
3) The debtor was insolvent at the time of the transfer (case law presumes insolvency during the 90 days prior to filing the bankruptcy petition
4) The transfer was made within 90 days before filing the petition (or one year if the transfer was to an "insider", i.e. family member or business partner);
5) The transfer enables a creditor to receive more than they would have received in a Chapter 7
liquidation if the transfer had not been made.
does this apply to an assignment deed of trust? if my exemption is more than the value of the property?