Tudor-era laws to combat asset transfers to wives

TUDOR-era laws will be used against developers who have transferred property to their wives or families to put it out of reach of NAMA.

The Conveyancing Act (Ireland) 1634 will be used by the agency to force the reverse of such transfers that took place before autumn 2009 when laws setting up NAMA were put in place.

Of the top 30 developers whose bad loans have been taken over by NAMA, 20 voluntarily admitted they had transferred assets, including luxury homes and large tracts of land, to their wives or other relatives.