Legal Question in Bankruptcy in Virginia

Re: fraudulant bankruptcy

To the extent that the vehicle is transferred for less than reasonably equivalent value within 2 years of the bankruptcy filing and while the transferor/debtor is insolvent, it is a fraudulent transfer. It is not criminally illegal to receive a transfer under such circumstances, but the transfer could be undone or the value recovered from you by the trustee. If the debtor intends not to disclose the transfer, then it is criminal bankruptcy fraud, and if you are a knowing participant, you are guilty too.