California Codes
Cal. Civil Code § 3439.04 (2026)
✓ current as of May 2026
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(a)A transfer made or obligation incurred by a debtor is voidable as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation as follows:
(1)With actual intent to hinder, delay, or defraud any creditor of the debtor.
(2)Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor either:
(A)Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction.
(B)Intended to incur, or believed or reasonably should have believed that the debtor would incur, debts beyond the debtor’s ability to pay as they became due.
(b)In determining actual intent under paragraph (1) of subdivision (a), consideration may be given, among other factors, to any or all of the following:
(1)Whether the transfer or obligation was to an insider.
(2)Whether the debtor retained possession or control of the property transferred after the transfer.
(3)Whether the transfer or obligation was disclosed or concealed.
(4)Whether before the transfer was made or obligation was incurred, the debtor had been sued or threatened with suit.
(5)Whether the transfer was of substantially all the debtor’s assets.
(6)Whether the debtor absconded.
(7)Whether the debtor removed or concealed assets.
(8)Whether the value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred.
(9)Whether the debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred.
(10)Whether the transfer occurred shortly before or shortly after a substantial debt was incurred.
(11)Whether the debtor transferred the essential assets of the business to a lienor that transferred the assets to an insider of the debtor.
(c)A creditor making a claim for relief under subdivision (a) has the burden of proving the elements of the claim for relief by a preponderance of the evidence.
Notes of Decisions
Cited in 326
cases (75 in the last 5 years), 1943–2026 · leading case: Donell v. Kowell, 533 F.3d 762 (9th Cir. 2008).
Donell v. Kowell, 533 F.3d 762 (9th Cir. 2008). “(2) Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor either: (A) Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the…”
Wolkowitz v. Beverly (In Re Beverly), 374 B.R. 221 (9th Cir. BAP 2007). “Cal. Civ. Code § 3439.04 (b)(10). The MSA transfer was agreed upon in the midst of trial that led to a $424,450 judgment and was incorporated in the marital dissolution decree shortly after the money judgment was entered.”
Slatkin v. Neilson, 525 F.3d 805 (9th Cir. 2008). “§ 548 (a) and California Civil Code § 3439.04(a) certain transfers made by Slatkin during his operation of a Ponzi scheme.”
In re: Doron Ezra Nava Tomer Ezra, 537 B.R. 924 (9th Cir. BAP 2015). “09(c)’s seven-year statute of repose does not bar a claim under § 544(b) and Cal. Civ.Code § 3439.04 so long as the claim arose less than seven years before the debtor’s bankruptcy filing.”
In Re AFI Holding, Inc., 525 F.3d 700 (9th Cir. 2008). “TROTT, Circuit Judge: The bankruptcy court granted summary judgment in favor of the Trustee for Advance Finance Incorporated (“AFI”), avoiding transfers from AFI to Keith Mackenzie under Cal. Civ. Code § 3439.04 (a), and holding that the good faith exception to fraudulent…”
Pajaro Dunes Rental Agency, Inc. v. Spitters (In Re Pajaro Dunes Rental Agency, Inc.), 174 B.R. 557 (Bankr. N.D. Cal. 1994). “§ 548 and the California Fraudulent Conveyance Act, former Cal.Civ.Code § 3439.04, claiming that the purchases of Wolfs and Marmon’s stock represented fraudulent transfers that deprived Wolf & Vine’s unsecured creditors from recovery on their claims.”
Lyon v. Eiseman (In Re Forbes), 372 B.R. 321 (6th Cir. BAP 2007). “California Civil Code § 3439.04(a) provides: (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or…”
Greenspan v. Orrick, Herrington & Sutcliffe LLP (In Re Brobeck, Phleger & Harrison LLP), 408 B.R. 318 (Bankr. N.D. Cal. 2009). “Claim 8: Actual Fraudulent Transfer Under Cal. Civ.Code § 3439.04. In addition to the elements of an actual fraudulent transfer under section 548(a)(1)(A), Cal.”
Mejia v. Reed, 74 P.3d 166 (Cal. 2003). “Under the UFTA, a transfer can be invalid either because of actual fraud (Civ. Code, § 3439.04, subd. (a)) or constructive fraud (id.”
In Re Moffat, 107 B.R. 255 (Bankr. C.D. Cal. 1989). “However, the Congressional history just cited does not address California’s specific fraudulent conveyance statute here in issue, California Civil Code § 3439.04. Moreover, in addition to the question of whether there was intent to hinder as required by California Civil Code §…”
Pga W. Residential Ass'n, Inc. v. Hulven Int'l, Inc., 221 Cal. Rptr. 3d 353 (Cal. Ct. App. 5th 2017). “' ( Civ. Code, § 3439.04, subd. (a) [ (1) ].) *365 Even without actual fraudulent intent, a transfer may be fraudulent as to present creditors if the debtor did not receive 'a reasonably equivalent value in exchange for the transfer' and 'the debtor was insolvent at that time or…”
Chen v. Berenjian, 245 Cal. Rptr. 3d 378 (Cal. Ct. App. 5th 2019). “The acts of filing the sham complaint and agreeing to the stipulated judgment, though communicative in nature, were not the gravamen of Chen's fraudulent transfer cause of action.”
— Cal. Civil Code § 3439.04(a) — 43 cases
Slatkin v. Neilson, 525 F.3d 805 (9th Cir. 2008). “§ 548 (a) and California Civil Code § 3439.04(a) certain transfers made by Slatkin during his operation of a Ponzi scheme.”
Rund v. Bank of Am. Corp. (In re EPD Inv. Co.), 523 B.R. 680 (9th Cir. BAP 2015).
Neilson v. Union Bank of California, N.A., 290 F. Supp. 2d 1101 (C.D. Cal. 2003).
In Re Moffat, 107 B.R. 255 (Bankr. C.D. Cal. 1989). “However, the Congressional history just cited does not address California’s specific fraudulent conveyance statute here in issue, California Civil Code § 3439.04. Moreover, in addition to the question of whether there was intent to hinder as required by California Civil Code §…”
United States v. Real Prop. Located at 5208 Los Franciscos Way, 385 F.3d 1187 (9th Cir. 2004).
— Cal. Civil Code § 3439.04(a)(1) — 37 cases
Wolkowitz v. Beverly (In Re Beverly), 374 B.R. 221 (9th Cir. BAP 2007). “Cal. Civ. Code § 3439.04 (b)(10). The MSA transfer was agreed upon in the midst of trial that led to a $424,450 judgment and was incorporated in the marital dissolution decree shortly after the money judgment was entered.”
In re: Doron Ezra Nava Tomer Ezra, 537 B.R. 924 (9th Cir. BAP 2015). “09(c)’s seven-year statute of repose does not bar a claim under § 544(b) and Cal. Civ.Code § 3439.04 so long as the claim arose less than seven years before the debtor’s bankruptcy filing.”
Slatkin v. Neilson, 525 F.3d 805 (9th Cir. 2008). “§ 548 (a) and California Civil Code § 3439.04(a) certain transfers made by Slatkin during his operation of a Ponzi scheme.”
Lyon v. Eiseman (In Re Forbes), 372 B.R. 321 (6th Cir. BAP 2007). “California Civil Code § 3439.04(a) provides: (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or…”
Opperman v. Path, Inc., 87 F. Supp. 3d 1018 (N.D. Cal. 2014).
— Cal. Civil Code § 3439.04(a)(1)(2) — 1 case
In re: Benjamin Menjivar (9th Cir. BAP 2014).
— Cal. Civil Code § 3439.04(a)(2) — 14 cases
Tatung Co. v. Shu Tze Hsu, 43 F. Supp. 3d 1036 (C.D. Cal. 2014).
Aceituno v. Vowell, 518 B.R. 579 (E.D. Cal. 2014).
Square 1 Bank v. Lo, 128 F. Supp. 3d 1257 (N.D. Cal. 2015).
Thomas Seaman v. Neil Richardson (9th Cir. 2021).
In re: Barry Michael Gould (9th Cir. BAP 2014).
— Cal. Civil Code § 3439.04(a)(2)(A) — 6 cases
Intervest Mortg. Inv. Co. v. Skidmore, 655 F. Supp. 2d 1100 (E.D. Cal. 2009).
Elissa Miller v. Bhc Interim Funding II, 635 F. App'x 355 (9th Cir. 2015).
Robert Thomas v. Newport Beach Auto. Grp., LLC (C.D. Cal. 2024).
Crawford v. Bleeden (N.D. Tex. 2023).
Robb Evans & Assocs., LLC, as Court Appointed Receiver in the In re Sanctuary Belize Litig. v. Diaz-Cueto (D. Maryland 2022).
— Cal. Civil Code § 3439.04(a)(2)(B) — 1 case
United States v. Peterson, 820 F. Supp. 2d 576 (S.D.N.Y. 2011).
— Cal. Civil Code § 3439.04(a)(l) — 1 case
Square 1 Bank v. Lo, 128 F. Supp. 3d 1257 (N.D. Cal. 2015).
— Cal. Civil Code § 3439.04(b) — 26 cases
Pajaro Dunes Rental Agency, Inc. v. Spitters (In Re Pajaro Dunes Rental Agency, Inc.), 174 B.R. 557 (Bankr. N.D. Cal. 1994). “§ 548 and the California Fraudulent Conveyance Act, former Cal.Civ.Code § 3439.04, claiming that the purchases of Wolfs and Marmon’s stock represented fraudulent transfers that deprived Wolf & Vine’s unsecured creditors from recovery on their claims.”
Wolkowitz v. Beverly (In Re Beverly), 374 B.R. 221 (9th Cir. BAP 2007). “Cal. Civ. Code § 3439.04 (b)(10). The MSA transfer was agreed upon in the midst of trial that led to a $424,450 judgment and was incorporated in the marital dissolution decree shortly after the money judgment was entered.”
Lyon v. Eiseman (In Re Forbes), 372 B.R. 321 (6th Cir. BAP 2007). “California Civil Code § 3439.04(a) provides: (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or…”
In Re Moffat, 107 B.R. 255 (Bankr. C.D. Cal. 1989). “However, the Congressional history just cited does not address California’s specific fraudulent conveyance statute here in issue, California Civil Code § 3439.04. Moreover, in addition to the question of whether there was intent to hinder as required by California Civil Code §…”
Kendall v. Sorani (In Re Richmond Produce Co.), 195 B.R. 455 (N.D. Cal. 1996).
— Cal. Civil Code § 3439.04(b)(1) — 3 cases
Wolkowitz v. Beverly (In Re Beverly), 374 B.R. 221 (9th Cir. BAP 2007). “Cal. Civ. Code § 3439.04 (b)(10). The MSA transfer was agreed upon in the midst of trial that led to a $424,450 judgment and was incorporated in the marital dissolution decree shortly after the money judgment was entered.”
Pajaro Dunes Rental Agency, Inc. v. Spitters (In Re Pajaro Dunes Rental Agency, Inc.), 174 B.R. 557 (Bankr. N.D. Cal. 1994). “§ 548 and the California Fraudulent Conveyance Act, former Cal.Civ.Code § 3439.04, claiming that the purchases of Wolfs and Marmon’s stock represented fraudulent transfers that deprived Wolf & Vine’s unsecured creditors from recovery on their claims.”
Crawford v. MagicStar Arrow Ent. LLC (N.D. Tex. 2023).
— Cal. Civil Code § 3439.04(b)(2) — 2 cases
Pajaro Dunes Rental Agency, Inc. v. Spitters (In Re Pajaro Dunes Rental Agency, Inc.), 174 B.R. 557 (Bankr. N.D. Cal. 1994). “§ 548 and the California Fraudulent Conveyance Act, former Cal.Civ.Code § 3439.04, claiming that the purchases of Wolfs and Marmon’s stock represented fraudulent transfers that deprived Wolf & Vine’s unsecured creditors from recovery on their claims.”
United States v. Crisp, 190 F.R.D. 546 (E.D. Cal. 1999).
— Cal. Civil Code § 3439.04(b)(3) — 1 case
Crawford v. Bleeden (N.D. Tex. 2023).
— Cal. Civil Code § 3439.04(b)(4) — 1 case
Wolkowitz v. Beverly (In Re Beverly), 374 B.R. 221 (9th Cir. BAP 2007). “Cal. Civ. Code § 3439.04 (b)(10). The MSA transfer was agreed upon in the midst of trial that led to a $424,450 judgment and was incorporated in the marital dissolution decree shortly after the money judgment was entered.”
— Cal. Civil Code § 3439.04(b)(5) — 1 case
Wolkowitz v. Beverly (In Re Beverly), 374 B.R. 221 (9th Cir. BAP 2007). “Cal. Civ. Code § 3439.04 (b)(10). The MSA transfer was agreed upon in the midst of trial that led to a $424,450 judgment and was incorporated in the marital dissolution decree shortly after the money judgment was entered.”
— Cal. Civil Code § 3439.04(b)(9) — 1 case
Wolkowitz v. Beverly (In Re Beverly), 374 B.R. 221 (9th Cir. BAP 2007). “Cal. Civ. Code § 3439.04 (b)(10). The MSA transfer was agreed upon in the midst of trial that led to a $424,450 judgment and was incorporated in the marital dissolution decree shortly after the money judgment was entered.”
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