United Jersey Bank v. Vajda

The opinion of the court was delivered by

HUMPHREYS, J.A.D.

Plaintiff obtained a default judgment in August 1994 against the defendant for some $91,000. Thereafter, defendant transferred assets to his sister including half of his stock in a corporation. Defendant appeals an order entered on January 31,1996 which set aside the transfers.

Defendant contends: (1) his transfer of the stock interest created a joint venture which is “immune” from a judgment lien against him; (2) the court may not cancel the transfer of his stock interest to a non-party because there was consideration for the transfer…