1.    Uniform Fraudulent Transfers Act (UFTA) is primary source for determining whether or not there has been a fraudulent transfer.
a.    §1—Definitions
(i)    (2)  Asset—Property of the debtor.  This is not to include (i) property to the extent that it is encumbered by a valid lien; property to the extent it is generally exempt under non b/r law; or (iii) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
(ii)    (12)  Transfer means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting w/ an asset or an interest in an asset, and includes payment of money, release, lease and creation of a lien or other encumbrance.
(iii)    Note:  Transfer is defined in terms of parting w/ an asset.  So, if something is not an asset, there is no transfer.  This means it is not possible to challenge the sale of exempt property, b/c it is not a transfer since, by definition it is not an asset.
b.    §4—Transfers Fraudulent as to Present and Future creditors.  Transfer will be avoided if made…
(i)    (a)(1) With actual intent to defraud (factors evidencing intent are in (b)).
(ii)    (a)(2)  without receiving REV and if the debtor (i) was engaged or was about to engage in business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction or (ii) intended to incur, or believed or reasonably should have believed that he would incur, debts beyond his ability to pay as they become due.
c.    §5—Transfer Fraudulent as to Present Creditors
(i)    (a)  Transfer is fraudulent if debtor received less than REV, and was insolvent or the transfer caused the debtor to become insolvent.
(ii)    (b) transfer is fraudulent if made to an insider for antecedent debt when the debtor was insolvent and the insider has reasonable cause to believe the debtor was insolvent.
d.    Reasonably Equivalent Value (REV).  Under either 5(a) or 4(a)(2), one of the elements requires that the debtor transfer property for less than REV.  This is not defined in the statute, and the creditor has the burden of establishing that the amount received by the debtor was too low.  Creditor may argue based on amount below market value while debtor will say that the relevant figure is the amount below what would be received at a judicial sale.
e.    §2–Insolvency—insolvency is an required element under 4(b)(9), 5(a) and (b).
(i)    (a) A debtor is insolvent if liabilities outweigh assets.
(ii)    (b) a debtor who is generally not paying his debts as they become due is presumed to be insolvent.  This shifts the burden to the insolvent party to show that they aren’t insolvent.
f.    §7(a)(1)—Remedies of Creditors.  If party is challenging conveyance, they bring suit against the buyer/transferee.  This section allows avoidance of the sale, and recovery of the property.
g.    8(d)—Protection of Transferee.  Notwithstanding voidability of a transfer, a good faith buyer is entitled, to the extent of the value given the debtor for the transfer, to (1) a lien on or a right to retain any interest in the asset transferred; (2) enforcement of any obligation incurred; or (3) a reduction in the amount of liability on the judgment.  (Note—buyer should show up at judicial sale and bid in using his lien—that way he either gets the prop, or if he is outbid, he gets his money back.).
h.    §9—4 year sol.  So, can bring claim for any transfer that took place in last 4 years.