Void transfers to defeat government revenue are ineffective unless made for adequate consideration, in good faith and without notice.

Where, after a liability has arisen, a person transfers or charges property with intent to defraud Government revenue, that charge or transfer is void against any claim for tax or other sums payable; however, transfers are saved if made for adequate consideration, in good faith and without notice of proceedings or the liability, or with prior permission of the proper officer.

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