ÿWPC/ :#!<UN] %« 0(±U:ÙU:wM4i B}š© 0¶« 0Da m¥ 0J¼ 0T 0^Z 0h¸ 0r  0|’ 0† 0” 1u$ AQ™ Æê 0c° 0@ 0DS 0d— D/û B* D3G U >z U*¸ B)â DC  AMN"›f½q#”,²v~ÞvÓ\˜Tech HP4si,ü,,,,,ü0(ÈhH  Z6Times New Roman RegularX($¡¡,c½¬AZ‹"Arial Regular¿"Arial RegularEUuYf#¹€‚ŒJ„üÿP Pd3|x (f(2?®$¤¤Ý ƒ'\!ÝÔ‡X½œXXXÔÝ  ÝÓ  ÓÔ‡ôöíõXX½œÔà  àòòÚ  Ú0Ú  Úóó(#Ã$òòÚ  Ú0Ú  ÚóóÿU‹ÿÀÀÀ2 ÿÿ0Indent1Ô2ÔÔ3  Ô2" ÿÿ0Indent2à0 àÔ2ÔÔ3  Ô2, ÿÿ0Indent3à0 àà0 àÔ2ÔÔ3  Ô26 ÿÿ0Indent4à0 àà0 àà0 àÔ2ÔÔ3  Ô2@ ÿÿ0Indent5à0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2J ÿÿ0Indent6à0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2T ÿÿ0Indent7à0 àà0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2^ ÿÿ0Indent8à0 àà0 àà0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô ÿÿ?AGMSYaioIndent0I.A.1.a.(1)(a)i)a) !"#%Cþÿ<< CÿÿƒLevel 1Level 2Level 3Level 4Level 5(;3SÉ$¢¢Ý ƒ'\!ÝÔ‡X½œXXXÔÝ  Ý("ÿÿ$££Ò  ÒÒ  Ò($$””ò òÚ  Ú1Ú  Úó óP ÿÿ8Mac DefaultMac DefaultÓ ` °šXÓ '÷ÿ dxd d'''''ÿÿdxd< Œ 9p`(&Times New Roman< Œ 9p`(Arial% Line 7 d00007Border 1dd "1Cþÿ << Gÿÿ Ý ƒ!ÝÔ€.ÔÝ  ÝÝ ƒ!"ÝÝ  ÝÔ_ÔÔ€.ÔÓ  ÓÔ YYY ÔFILEDÔ€.XÔÌÌò òDecember€17,€1997ÌÌCecil€Ô_ÔCrowsonÔ_Ô,€Jr.ÌÔ€.ôÔAppellate€Court€Clerkó ó \Ñ\R AØ'\Ñ gÝ ƒ!ÝÑ#€d#ÑÔ€.ÔÝ  ÝÝ ƒ $ÝÓ  ÓÔ€.ôÔà àòòÚ  ÚÚ  ÚóóÝ  ÝÔ_ÔWe€note€that€counsel€for€Rankin€views€the€conveyance€of€the€CDs€as€creating€a€tenancy€by€the€entirety.€ÏHowever,€the€CD€expressly€states€that€the€depositors€listed€on€the€CDs€hold€as€joint€tenants€with€right€ofÏsurvivorship.€€It€is,€of€course,€legally€permissible€for€a€husband€and€wife€to€own€either€real€or€personal€property€inÏany€manner€they€choose,€such€as€tenants€in€common,€individually,€in€partnership,€as€life€tenant€and€Ô_ÔremaindermanÔ_Ô,Ïor€any€other.€€òòGriffin€v.€Princeóó,€632€S.W.2d€532,€535€(Tenn.€1982);€òòÔ_ÔCattÔ_Ô€v.€Ô_ÔCattÔ_Ôóó,€866€S.W.2d€570,€573€(Tenn.€Ct.ÏApp.€1993).€Ì Ý ƒ!ÝÑ#€d#ÑÔ€.ÔÝ  ÝÝ ƒ $ÝÓ  ÓÔ€.ôÔà àòòÚ  ÚÚ  ÚóóÝ  ÝÔ_ÔÔ_ÔT.C.A.Ô_Ô€ðð€66„3„302€provides€the€test€for€when€a€person€has€reached€ð ðinsolvency:ðð€€€ð ðA€person€is€insolventÏwhen€the€present€fair€salable€value€of€his€assets€is€less€than€the€amount€that€will€be€required€to€pay€his€probableÏliability€on€his€existing€debts€as€they€become€absolute€and€matured.ðð€Ì "Ý ƒ!ÝÑ#€d#ÑÔ€.ÔÝ  ÝÝ ƒ $ÝÓ  ÓÔ€.ôÔà àòòÚ  ÚÚ  ÚóóÝ  ÝÔ_ÔA€more€animated€description€of€these€ð ðbadgesðð€is€found€in€òòFloyd€v.€Goodwinóó,€16€Tenn.€484:€ð ð[Fraud]Ïtherefore€has€to€be€ferreted€out€by€carefully€following€its€marks€and€signs;€for€fraud€will,€in€most€instances,€thoughÏnever€so€artfully€and€secretly€contrived,€like€the€snail€in€its€passage,€leave€its€slime€by€which€it€may€be€traced.ððÌPtPtHHÚ(ÿáÿâùFG(üHHØ(d'`Styl{WP}01•ÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃà Ãà Ãà Ãà Ãà ÃÃÃÃÃÃÃÃÃÃÃÐ ÐÐHHÐÐ  ÐÐ2ÐÐÿÿ¸æ$ÿÐÐHHÐÐÐÐÐÐÐÐ  ÐÐ ÐÐ ÐÑÑÑGenevaÑÑ ÑÑ € ÑÑ<Px–ÈÑÒÒÒ443!#4ÒÒ$ *$ÒÒ$*$ÒÒ ÿKK ÒÒ  Geneva ÒÒ  Geneva ÒÓ.,ÓÓÓÓ6ÓÓ ÓßßßßßßßßßßßßßßßßßßÑGenevaÑÑ ÑÒ  ion-F Geneva ÒÒ  ion-F Geneva ÒÝ ƒ!ÝÔ . ÔÔ€.ÔÝ  ÝÓ  ÓÔ€/ÔÑ\R AØ'\ÑÔ_ÔÑ8€®ÂXXdðXXdð8ÑÞ ÞÌà@ àò òIN€THE€COURT€OF€APPEALS€OF€TENNESSEEÌÙ€ ÙÔ_ÔßR€231A1-j|µ}` @ `€€@ÿRßÔ_Ôà@ àWESTERN€SECTION€AT€JACKSONÌÌÌLAURA€NEVILLE€MULLER,à àà à)ÌIndividually€and€on€behalf€ofà àà à)ÌTHE€ESTATE€OF€WADE€Ô_ÔLANNOMÔ_Ô,à à)€€Ìà àà àà àà àà àà à)Ìà àà àó óPlaintiff/Appellant,à àà àò ò)€€Lake€Chancery€No.€3894Ìà àà àà àà àà àà à)ÌVS.à àà àà àà àà àà à)€€Appeal€No.€02A01„9702„CH„00043Ìà àà àà àà àà àà à)ÌEVELYN€RANKIN€Ô_ÔLANNOMÔ_Ô,à àà à)Ìà àà àà àà àà àà à)Ìà àà àó óDefendant/Appellee.à àò ò)ó óÌÌÌà@ àAPPEAL€FROM€THE€CHANCERY€COURT€OF€LAKE€COUNTYÌà@ àAT€Ô_ÔTIPTONVILLEÔ_Ô,€TENNESSEEÌà@ àTHE€HONORABLE€J.€STEVEN€STAFFORD,€CHANCELLORÌÌÌÌÌÌÌÌÌò òJOHN€D.€HORNEó óÌò òTHE€WINCHESTER€LAW€FIRMÌó óMemphis,€TennesseeÌAttorney€for€AppellantÌÌÌÌò òDAMON€E.€CAMPBELLó óÌò òÔ_ÔCONLEYÔ_Ô,€CAMPBELL,€MOSS€&€SMITHÌó óUnion€City,€TennesseeÌAttorney€for€AppelleeÌÌÌÌÌÌÌÌò òAFFIRMEDÌÌÌÌÌó óà àà àà àà àà àà àà àà àà àò òALAN€E.€Ô_ÔHIGHERSÔ_Ô,€J.ÌÌÌÌCONCUR:ÌÌDAVID€R.€FARMER,€J.ÌÌHOLLY€KIRBY€Ô_ÔLILLARDÔ_Ô,€J.ó óÌÑ€4ÑÇâ âÑ8€r)XXdðXXdð8Ñâ âÓÓà àPlaintiff,€Laura€Muller€(ð ðMullerðð),€appeals€the€order€of€the€trial€court€dismissingÏher€complaint€to€set€aside€transfers,€or€in€the€alternative,€to€impose€a€constructive€trustÏor€an€equitable€lien€on€the€certificates€of€deposit€(ð ðCDsðð)€that€had€been€owned€byÏWade€Ô_ÔLannomÔ_Ô€(ð ðÔ_ÔLannomÔ_Ôðð)€and€eventually€transferred€to€his€second€wife,€Defendant,ÏEvelyn€Rankin€Ô_ÔLannomÔ_Ô€(ð ðRankinðð).€€For€reasons€stated€hereinafter,€we€affirm€theÏjudgment€of€the€trial€court.ÌÌÓ  Óò òFACTSòòÌÓ  Óó óóóà àÔ_ÔLannomÔ_Ô€lived€in€Lake€County,€Tennessee,€his€entire€life.€€He€had€been€marriedÏto€Mary€Ruth€Ô_ÔLannomÔ_Ô€for€approximately€57€years€when€she€died€on€July€11,€1990.€ÏMuller€was€the€only€child€of€this€marriage.ÌÌà àOn€August€12,€1991,€Ô_ÔLannomÔ_Ô€made€a€gift€of€approximately€400€acres€of€realÏproperty€to€Muller.€€This€gift€was€evidenced€by€a€quitclaim€deed€that€was€properlyÏrecorded.€€Ìà àOn€August€12,€1991,€Ô_ÔLannomÔ_Ô€held€five€CDs€in€the€principal€amounts€of€$10,000Ïeach€issued€by€First€State€Bank€&€Trust€(ð ðFirst€State€Bankðð).€€Each€CD€listed€Ô_ÔLannomÔ_ÔÏand€Muller€as€depositors.€€On€December€6,€1991,€Ô_ÔLannomÔ_Ô€had€First€State€Bank€issueÏfive€new€CDs€for€the€same€amounts.€€However,€this€time,€Ô_ÔLannomÔ_Ô€had€himself€listed€asÏthe€sole€depositor.€€In€February€1992,€Ô_ÔLannomÔ_Ô€married€Rankin.€ÌÌà àOn€or€before€April€15,€1992,€Ô_ÔLannomÔ_Ô€was€required€by€Ô_ÔT.C.A.Ô_Ô€ðð€67„8„110€to€file€aÏgift€tax€return€with€the€Tennessee€Department€of€Revenue€(ð ðDepartment€of€Revenueðð)Íreporting€his€August€12,€1991,€gift€to€Muller.€€Ô_ÔLannomÔ_Ô€failed€to€do€so.€ÌÌà àOn€June€6,€1992,€€and€again€on€June€13,€1993,€Ô_ÔLannomÔ_Ô€caused€First€StateÏBank€to€issue€five€new€CDs€in€the€amount€of€$10,000€each€listing€Ô_ÔLannomÔ_Ô€and€RankinÏas€joint€depositors€to€replace€the€five€CDs€he€had€held€on€December€6,€1991.€Ô_ÔLannomÔ_ÔÏand€Rankin€held€said€CDs€as€joint€tenants.Ô_Ô× ƒ5 ××  ×Ô_Ô€€On€November€25,€1993,€Ô_ÔLannomÔ_Ô€died€inÏLake€County,€Tennessee.€€Thereafter,€on€January€4,€1994,€Muller€was€appointedÏExecutrix€of€Ô_ÔLannomÔ_Ôððs€estate.€€ÌÌà àAs€Executrix,€on€March€8,€1994,€Muller€filed€a€short€form€inheritance€tax€returnÏwith€the€Department€of€Revenue€in€which€she€reported€Ô_ÔLannomÔ_Ôððs€August€12,€1991,€giftÏto€her.€€On€May€25,€1994,€the€Department€of€Revenue€advised€Muller€to€file€a€gift€taxÏreturn€on€behalf€of€Ô_ÔLannomÔ_Ô€that€reflected€his€unreported€August€12,€1991,€gift.€€On€orÏabout€June€15,€1994,€Muller,€as€Executrix,€filed€a€1991€Tennessee€gift€tax€return€forÏÔ_ÔLannomÔ_Ô€with€the€Department€of€Revenue€in€which€she€reported€the€August€12,€1991,Ïgift.€€Thereafter,€on€October€6,€1994,€the€Department€of€Revenue€issued€a€notice€ofÏassessment€against€Ô_ÔLannomÔ_Ô€for€the€1991€Tennessee€gift€taxes,€penalties,€and€interestÏin€the€amount€of€$40,811.63.ÌÌà àOn€December,€30,€1994,€Muller€filed€a€complaint€against€the€Department€ofÏRevenue€challenging€the€assessment€of€the€1991€gift€tax€liability€against€Ô_ÔLannomÔ_Ô.€€OnÏSeptember€29,€1995,€the€court€entered€a€final€order€sustaining€the€1991€gift€taxÏassessment€against€Ô_ÔLannomÔ_Ô€and€entering€judgment€in€favor€of€the€Department€ofÏRevenue€in€the€amount€of€$43,402.88€plus€interest€and€attorneyððs€fees.€€There€were€noÏfunds€in€Ô_ÔLannomÔ_Ôððs€estate€from€which€to€pay€the€September€29,€1995,€judgment.€ÌÌà àOn€or€about€May€20,€1996,€Muller€paid€the€Department€of€Revenue€the€sum€ofÏ$47,363.00€to€satisfy€Ô_ÔLannomÔ_Ôððs€1991€gift€tax€liability.€€In€order€to€pay€the€tax€liability€ofÏÔ_ÔLannomÔ_Ô,€Muller€borrowed€the€money€using€the€400€acre€gift€as€collateral.€On€May€31,Ï1996,€an€agreed€final€order€was€entered€reflecting€that€the€September€29,€1995,Ïjudgment€would€be€satisfied€by€the€payment€of€the€$43,402.88€and€that€court€costsÏwould€be€paid€by€Muller€as€Executrix.€ÌÌà àShortly€after€Rankinððs€marriage€to€Ô_ÔLannomÔ_Ô,€she€was€added€to€his€checkingÏaccount€as€joint€owner.€€After€Ô_ÔLannomÔ_Ôððs€death,€Rankin€took€possession€of€Ô_ÔLannomÔ_ÔððsÏchecking€account€which€had€a€balance€of€$18,084.44.€€Rankin€also€€took€possessionÏof€Ô_ÔLannomÔ_Ôððs€1991€Jeep€Briarwood€that€Ô_ÔLannomÔ_Ô€had€purchased€with€cash,€his€JohnÏDeere€Hydrostatic€lawn€and€garden€tractor,€as€well€as€the€five€CDs€in€the€amount€ofÏ$10,000€each.€Ì€€Ìà àAt€the€time€of€her€marriage€to€Ô_ÔLannomÔ_Ô,€Rankin€was€receiving€social€securityÏbenefits€attributable€to€her€deceased€husband,€Harry€Rankin.€€In€place€of€the€socialÍsecurity€she€had€been€receiving€from€her€former€husband,€€Rankin€currently€receivesÏsocial€security€benefits€attributable€to€Ô_ÔLannomÔ_Ô€in€the€approximate€amount€of€$1,050.00Ïper€month.€€ÌÌà àAfter€Ô_ÔLannomÔ_Ôððs€death,€Rankin€returned€to€her€home€in€Ô_ÔTiptonvilleÔ_Ô,€Tennessee,€inÏwhich€she€had€resided€prior€to€her€marriage€to€Ô_ÔLannomÔ_Ô€and€which€she€continued€toÏmaintain€during€her€marriage€to€Ô_ÔLannomÔ_Ô.€ÌÌà àBank€records€were€subpoenaed€for€trial€from€the€First€Exchange€Bank€inÏÔ_ÔTiptonvilleÔ_Ô,€Tennessee.€€Those€bank€records€manifested€that,€after€Ô_ÔLannomÔ_Ôððs€death,ÏRankin€converted€the€CDs€to€her€name€and€made€them€payable€to€her€children€uponÏher€death.€€The€bank€records€also€indicated€that,€approximately€one€month€prior€toÏtrial,€Rankin€closed€her€accounts€and€moved€the€funds€represented€by€the€CDs€awayÏfrom€First€Exchange€Bank.€€Ìà àOn€January€4,€1994,€Muller,€in€her€individual€capacity€and€as€Executrix,€filed€aÏcomplaint€to€set€aside€transfers,€or€in€the€alternative€to€impose€a€constructive€trust€orÏan€equitable€lien,€and€for€injunctive€relief€against€Rankin€in€the€Chancery€Court€ofÏLake€County,€Tennessee.€€Muller€sought,€among€other€things,€to€impose€an€equitableÏlien€or€a€constructive€trust€upon€certain€CDs€that€had€been€owned€by€Ô_ÔLannomÔ_Ô,€in€orderÏto€satisfy€any€Tennessee€gift€tax€liability€that€existed.€€On€February€28,€1994,€RankinÏfiled€an€answer€denying€that€Ô_ÔLannomÔ_Ôððs€transfer€of€the€CDs€from€Ô_ÔLannomÔ_Ôððs€name€intoÏboth€Ô_ÔLannomÔ_Ô€and€Rankinððs€name€was€a€taxable€gift€and€denying€that€any€propertyÏacquired€by€her€from€Ô_ÔLannomÔ_Ô€was€subject€to€any€lien.€€On€November€5,€1996,€a€non„jury€trial€was€conducted€wherein€Muller€sought€to€subject€the€CDs€to€satisfaction€of€herÏÔ_ÔsubrogationÔ_Ô€claim€resulting€in€her€payment€of€Ô_ÔLannomÔ_Ôððs€1991€gift€tax€liability.€€At€trial,Ïthe€parties€submitted€stipulated€facts€to€the€trial€court.€€Thereafter,€on€November€6,Ï1996,€the€trial€court€entered€a€final€judgment€finding€Mullerððs€complaint€to€be€withoutÏmerit,€thereby,€dismissing€her€complaint.€€Muller€filed€her€notice€of€appeal€onÏNovember€8,€1996.€€This€appeal€followed.Ìò òòòÌÓ  ÓóóDISCUSSIONó óÌÓ  Óà àOrdinarily,€when€we€review€a€finding€of€fact€by€the€trial€court,€we€must€conductÏour€review€òòde€novoóó€upon€the€record€accompanied€by€a€presumption€of€correctness,Ïand€we€may€reverse€only€if€the€evidence€preponderates€against€the€finding€of€the€trialÏcourt.€€Ô_ÔT.R.A.P.Ô_Ô€13(d).€€However,€this€same€presumption€does€not€exist€with€regard€toÏthe€trial€courtððs€legal€determinations€or€when€the€trial€courtððs€conclusions€are€based€onÏÔ_ÔuncontrovertedÔ_Ô€facts.€€òòÔ_ÔProstÔ_Ô€v.€City€of€Clarksvilleóó,€668€S.W.2d€425,€427€(Tenn.€1985).€ÏIn€this€case,€the€facts€have€been€stipulated€to€by€the€parties,€and€the€trial€courtÏdismissed€Mullerððs€complaint€finding€it€to€be€without€merit.€€No€presumption€ofÏcorrectness€attaches€to€decisions€dismissing€complaints€because€such€decisions€areÏlegal€determinations,€and,€as€such,€do€not€warrant€a€presumption€of€correctness€by€thisÏCourt.€€Thus,€on€appeal,€this€Court€must€review€the€findings€of€the€trial€court€òòde€novoóóÏwithout€the€accompanying€presumption€of€correctness.Ìà àÌò òI.€€Ô_ÔSubrogationÔ_Ôó óÌà àAt€the€heart€of€Mullerððs€complaint€is€her€prayer€for€Ô_ÔsubrogationÔ_Ô€resulting€from€herÍpayment€of€Ô_ÔLannomÔ_Ôððs€1991€gift€tax€liability.€€Ô_ÔSubrogationÔ_Ô€is€the€substitution€of€oneÏperson€in€the€place€of€another€with€reference€to€a€lawful€claim,€demand€or€right,€so€thatÏhe€who€is€substituted€succeeds€to€the€rights€of€the€other€in€relation€to€the€debt€or€claim,Ïand€its€rights,€remedies,€or€securities.€€Blackððs€Law€Dictionary€1279€(5th€ed.€1979).€€InÏessence,€Muller€asserts€that€her€payment€of€the€gift€tax€obligation,€created€by€theÏtransfer€of€the€farmland€to€her€by€her€father,€entitles€her€to€be€Ô_ÔsubrogatedÔ_Ô€to€the€tax€lienÏcreated€in€favor€of€the€Department€of€Revenue.€€Therefore,€Muller€asked€the€trial€courtÏto€declare€the€conveyance€of€the€CDs€to€be€fraudulent,€to€set€aside€said€transfer,€andÏto€subject€the€funds€from€said€CDs€to€an€equitable€lien€or€a€constructive€trust€to€theÏextent€necessary€to€satisfy€her€Ô_ÔsubrogationÔ_Ô€claim€for€payment€of€Ô_ÔLannomÔ_Ôððs€1991€giftÏtax€liability.€€Ì€€€€Ìà àIt€is€undisputed€that€Ô_ÔLannomÔ_Ô€gave€Muller€a€gift€of€400€acres€of€real€propertyÏlocated€in€Lake€County,€Tennessee.€€Likewise,€it€is€also€undisputed€that€Ô_ÔLannomÔ_ÔÏencountered€gift€tax€liabilities€as€a€result€of€this€gift€under€Ô_ÔT.C.A.Ô_Ô€ðð€67„8„110.€€As€aÏresult€of€these€liabilities,€the€Department€of€Revenue€procured€a€gift€tax€lien€againstÏÔ_ÔLannomÔ_Ô.€€However,€we€feel€that,€according€to€Ô_ÔT.C.A.Ô_Ô€ðð€67„1„1403(d),€the€Department€ofÏRevenueððs€rights€in€Ô_ÔLannomÔ_Ôððs€assets€extended€only€as€far€as€the€affected€farmlandÏand€no€further.€€Ô_ÔT.C.A.Ô_Ô€ðð€67„1„1403(d)€provides:ÌÓÓà8 àà8 àNotwithstanding€any€other€provision€of€law€to€the€contrary,Ïthe€lien€for€taxes€imposed€by€chapter€8,€part€1€of€this€titleÏshall€arise€at€the€date€of€gift€and€shall€attach€to€any€interestÏin€property€transferred€and€to€any€property€acquired€inÏexchange€or€substitution€for€any€property€transferred.ÌÓÓÌÔ_ÔT.C.A.Ô_Ô€ðð€67„1„1403(d)€(1994).€€Undoubtedly,€a€gift€tax€lien€arose€on€August€12,€1991,Ïwhen€Ô_ÔLannomÔ_Ô€made€a€gift€of€the€400€acres€of€real€property€to€Muller.€€However,Ïaccording€to€Ô_ÔT.C.A.Ô_Ô€ðð€67„1„1403(d),€this€lien€attached€only€to€the€subject€farmland.€ÏÔ_ÔLannomÔ_Ôððs€other€assets,€including€the€CDs,€were€not€the€subject€of€this€lien,€and,€thus,Ïthe€Department€of€Revenue€had€no€further€rights€in€Ô_ÔLannomÔ_Ôððs€assets.€€As€such,€thereÏcan€be€no€Ô_ÔsubrogationÔ_Ô€rights€on€the€part€of€Muller.òòÌÌò òóóII.€€Fraudulent€Conveyanceòòó óÌà àóóWithin€her€claim€for€Ô_ÔsubrogationÔ_Ô,€Muller€beseeched€the€trial€court€to€declareÏÔ_ÔLannomÔ_Ôððs€transfer€of€the€CDs€to€Rankin€to€be€a€fraudulent€conveyance.€€Whether€aÏtransfer€is€fraudulent€is€determined€by€the€facts€and€circumstances€of€each€case.€€InÏTennessee,€there€are€two€ways€a€plaintiff€can€prove€the€fraudulent€nature€of€a€certainÏconveyance.€€The€first€is€under€Ô_ÔT.C.A.Ô_Ô€ðð€66„3„305.€€To€make€a€conveyance€fraudulentÏagainst€creditors€it€must€be€made€without€a€fair€consideration€leaving€the€grantorÏinsolvent.€€Ô_ÔT.C.A.Ô_Ô€ðð€66„3„305€(1994);€òòSeeóó€òòHicks€v.€Whitingóó,€258€S.W.2d€784€(Tenn.Ï1924);€òòÔ_ÔOttarsonÔ_Ô€v.€Dobson€&€Johnson,€Inc.óó,€430€S.W.2d€873€(1968).€€We€recognize€thatÏRankin€gave€no€consideration€for€the€conveyance€of€the€CDs.€€However,€no€evidenceÏwas€produced€which€indicated€that€the€transfer€of€the€five€CDs€rendered€Ô_ÔLannomÔ_ÔÏinsolvent.Ô_Ô× ƒ6 ××  ×Ô_Ô€€On€the€contrary,€the€evidence€reveals€that€Ô_ÔLannomÔ_Ô€was€receiving€$950€perÏmonth€in€social€security,€had€a€life€estate€in€approximately€250€acres€of€farmland€fromÏwhich€he€received€a€gross€annual€crop€rent€of€$21,200€in€1991€and€$24,500€in€1992,Ípaid€cash€for€an€automobile,€and€had€in€excess€of€$18,000€in€a€checking€account.€ÏAdditionally,€the€affidavit€of€value€filed€with€the€recording€of€the€deed€of€the€life€estateÏstates€the€worth€of€Ô_ÔLannomÔ_Ôððs€life€estate€to€be€$174,636.€€All€of€these€assets€were€moreÏthan€sufficient€€to€cover€Ô_ÔLannomÔ_Ôððs€gift€tax€liabilities.€€Further,€there€is€no€proof€in€theÏrecord€that€Ô_ÔLannomÔ_Ô€owed€any€additional€debts.€€We€find€that€Muller€has€failed€to€proveÏthat€the€conveyance€of€the€CDs€was€fraudulent€under€Ô_ÔT.C.A.Ô_Ô€ðð€66„3„305.ÌÌà àThe€second€way€to€prove€a€conveyance€was€fraudulent€is€under€Ô_ÔT.C.A.Ô_Ô€ðð€66„3„101.€€In€order€to€prove€a€conveyance€was€fraudulent€under€this€provision,€a€plaintiffÏmust€prove€that€the€conveyance€was€made€with€the€actual€intent€to€hinder,€delay,€orÏdefraud€creditors.€€òòMacon€Bank€and€Trust€Co.€v.€Hollandóó,€715€S.W.2d€347,€349€(Tenn.ÏCt.€App.€1986).€€Gibsonððs€òòSuits€in€Chanceryóó,€(5th€ed.€1955)€ðð€1057,€p.€328€states:ÌÓÓà8 àà8 àInasmuch€as€frauds€are€generally€secret,€and€have€to€beÏtracked€by€the€footprints,€marks,€and€signs€made€by€theÏperpetrators,€and€discovered€by€the€light€of€the€attendingÏfacts€and€circumstances,€these€evidences€are€termedÏððbadges€of€fraud.ðð× ƒ7 ××  ×€ÌÌÓÓWe€find€the€record€deficient€of€any€such€ð ðbadges€of€fraudðð€that€are€indicative€of€anÏintent€to€delay,€hinder,€or€defraud€creditors.€€Rankin€claims€that€the€remainder€of€hisÏestate€was€left€to€her€in€order€to€provide€for€her€after€his€death.€€This€reasoning€isÏsupported€by€Ô_ÔLannomÔ_Ôððs€creating€a€joint€tenancy€with€Rankin€in€the€CDs.€€We€agree€thatÏthis€would€be€a€legitimate€motivation€for€creating€the€joint€tenancy€in€the€CDs.€€MullerÏhas€the€burden€to€prove€that€Ô_ÔLannomÔ_Ôððs€conveyance€of€the€CDs€was€actually€intendedÍto€delay,€hinder,€or€defraud€creditors€and€not€to€provide€for€his€second€wife€after€hisÏdeath.€€Mullerððs€proof€does€not€qualify€by€the€foregoing€standard.òòÌÌò òóóIII.€€Constructive€Trustó óÌà àAn€additional€component€of€Mullerððs€brief€is€that€the€proceeds€from€Rankinððs€fiveÏCDs€should€be€subject€to€either€an€equitable€lien€or€a€constructive€trust.€€As€anÏalternative€to€her€prayer€for€an€equitable€lien,€Muller€requested€that€the€trial€court€setÏaside€the€CDs,€and€the€proceeds€therefrom,€in€a€constructive€trust€in€order€to€satisfyÏher€Ô_ÔsubrogationÔ_Ô€claim€for€the€payment€of€Ô_ÔLannomÔ_Ôððs€1991€gift€tax€liability.€€AÏconstructive€trust€arises€by€operation€of€law€against€one€holding€or€obtaining€the€legalÏright€to€property€not€equitably€his€or€hers€where€the€property€was€acquired€by€fraud,Ïactual€or€constructive,€or€by€duress€or€abuse€of€confidence,€commission€or€wrong€orÏany€form€of€unconscionable€conduct,€artifice,€concealment,€or€questionable€means,€orÏwho€in€any€way€against€equity€and€good€conscience€either€has€obtained€or€holds€legalÏtitle€to€property€which€he€ought€not,€in€equity€and€good€conscience,€to€hold€and€enjoy.€ÏòòRutherford€County€v.€City€of€Murfreesboroóó,€304€S.W.2d€635,€638€(Tenn.€1957);€òòÔ_ÔLivesayÔ_ÔÏv.€Keatonóó,€611€S.W.2d€581,€584€(Tenn.€Ct.€App.€1980).€€à àÌÌà àThe€facts€and€evidence€in€the€record€do€not€lend€themselves€to€a€finding€ofÏfraud,€duress,€or€unconscionable€conduct€by€either€Ô_ÔLannomÔ_Ô€or€Rankin.€€The€record€isÏreplete€with€allegations€by€Muller,€among€some€of€which€are€that€Rankin€inducedÏÔ_ÔLannomÔ_Ô€to€abandon€radiation€treatments,€to€convey€the€CDs€and€other€assets€to€her,Ïand€to€not€file€a€Tennessee€gift€tax€return.€€Muller€also€alleges€that€Rankin€isolatedÍÔ_ÔLannomÔ_Ô€from€his€family,€interposing€herself€between€Muller€and€her€father.€€AsÏmentioned€above,€Muller€failed€to€set€forth€the€necessary€evidence€to€verify€theseÏallegations€and€establish€the€need€for€a€constructive€trust.€€The€record€is€sorely€lackingÏthe€necessary€evidence€to€prove€that€Rankin€procured€the€CDs€from€Ô_ÔLannomÔ_Ô€by€fraud,Ïduress,€or€any€unconscionable€act.€€We€refuse€to€find€fraud,€duress,€or€unconscionableÏacts€sufficient€to€merit€the€imposition€of€a€constructive€trust€when€such€acts€have€beenÏpresented€as€mere€€allegations€without€the€necessary€accompanying€proof€in€theÏrecord.òòÌÌò òóóIV.€€Equitable€Lienó óÌà àAn€equitable€lien€is€a€right,€not€existing€at€law,€to€have€specific€property€appliedÏin€whole€or€in€part€to€payment€of€a€particular€debt€or€class€of€debts.€€Blackððs€LawÏDictionary€483€(5th€ed.€1979).€€It€is€not€an€estate€or€property€in€the€thing€itself,€nor€is€it€aÏright€to€recover€the€thing;€that€is,€it€is€not€a€right€which€may€be€made€the€basis€of€aÏÔ_ÔpossessoryÔ_Ô€action,€but€is€merely€a€charge€upon€it.€€òòGreer€v.€American€SecurityÏInsurance€Co.óó,€445€S.W.2d€904,€907€(Tenn.€1969);€òòSeeóó€òòAllen€v.€Cunninghamóó,€143ÏTenn.€11,€223€Ô_ÔS.W.Ô_Ô€450€(Tenn.€1919).€€An€equitable€lien€arises€either€from€a€writtenÏcontract€which€shows€an€intention€to€charge€some€particular€property€with€a€debt€orÏobligation€or€is€implied€and€declared€by€a€court€of€equity€out€of€general€considerationsÏof€right€and€justice€as€applied€to€relations€of€the€parties€and€circumstances€of€theirÏdealings.€€€€Blackððs€Law€Dictionary€483€(5th€ed.€1979).€€In€the€absence€of€an€expressÏcontract,€a€lien€is€based€upon€the€fundamental€maxims€of€equity€and€may€be€impliedÏand€declared€by€a€court€of€chancery€out€of€general€considerations€of€right€and€justiceÍas€applied€to€the€relations€of€the€parties€and€the€circumstances€of€their€dealings.€ÏòòGreeróó,€445€S.W.2d€at€907.€€There€must€be€an€intent€to€make€the€particular€property,Ïreal€or€personal,€a€security€for€the€obligation.€€òòId.óó€€An€equitable€lien€cannot€be€foundedÏmerely€upon€moral€obligations€alone,€but€must€find€a€basis€in€established€equitableÏprinciples.€òòId.óó;€òòSee€alsoóó€òòÔ_ÔStansellÔ_Ô€v.€Roachóó,€147€Tenn.€183,€246€Ô_ÔS.W.Ô_Ô€520€(Tenn.€1922).€€€Ì€Ìà àAfter€an€exhaustive€examination€of€the€record,€we€find€the€record€devoid€of€anyÏevidence€that€Ô_ÔLannomÔ_Ô€intended€the€five€CDs€to€be€a€security€for€the€obligation€to€payÏthe€his€gift€tax€liabilities.€€In€fact,€at€the€time€of€his€death,€Ô_ÔLannomÔ_Ôððs€gift€tax€liabilities€hadÏnot€been€assessed€against€him,€and€there€is€no€evidence€that€Ô_ÔLannomÔ_Ô€was€cognizantÏof€such€gift€tax€liabilities.€€We€do€not€believe€Ô_ÔLannomÔ_Ô€intended€for€the€CDs€to€be€usedÏin€satisfaction€of€a€debt€of€which€he€was€not€aware.€€ÌÌà àAs€a€final€matter,€we€feel€that€it€is€imperative€to€note€that€Ô_ÔLannomÔ_Ô€conveyed€theÏreal€property€to€Muller€via€a€quitclaim€deed.€€A€quitclaim€deed€is€a€deed€of€conveyanceÏoperating€by€way€of€release€€that€is€intended€to€pass€any€title,€interest,€or€claim€whichÏthe€grantor€may€have€in€the€premises,€but€not€professing€that€such€title€is€valid,€norÏcontaining€any€warranties€or€covenants€of€title.€Where€real€property€is€conveyed€byÏdeed€without€warranties,€the€vendee€or€donee€has€no€claim€upon€the€vendor€or€donorÏfor€money€expended€in€discharging€encumbrances€upon€the€property.€€òòSeeóó€òòÔ_ÔJobeÔ_Ô€v.ÏOððBrienóó,€21€Tenn.€(2€Hum.).€€According€to€Ô_ÔT.C.A.Ô_Ô€ðð€67„1„1403(d),€a€gift€tax€lien€arose€atÏthe€moment€Ô_ÔLannomÔ_Ô€made€a€gift€of€the€land€to€Muller.€€Undoubtedly,€this€is€anÏencumbrance.€€It€is€undisputed€that€Muller€accepted€the€real€property€from€Ô_ÔLannomÔ_Ô.€ÍAs€such,€she€accepted€the€property€ð ðas€isðð€with€the€accompanying€gift€tax€lien.€€ÏAccording€to€òòÔ_ÔJobeÔ_Ôóó,€Muller€is€without€claim€for€reimbursement€from€Ô_ÔLannomÔ_Ôððs€estate€forÏthe€gift€tax€encumbrance€that€accompanied€the€land.ÌÌà àWe€find€it€interesting€that€Ô_ÔLannomÔ_Ô€Ô_ÔquitclaimedÔ_Ô€his€interest€in€the€real€property€toÏMuller.€€As€such,€Ô_ÔLannomÔ_Ô€conveyed€only€€what€interest€he€had€in€the€land,€and€MullerÏtook€the€land€subject€to€encumbrances€thereon.€€Had€Ô_ÔLannomÔ_Ô€conveyed€the€land€by€aÏgeneral€warranty€deed,€undoubtedly,€Muller€could€have€had€a€cause€of€action€toÏenforce€the€warranties€and€covenants€which€apply€thereto.€€However,€a€quitclaim€doesÏnot€carry€such€warranties€or€covenants.€€If€anything,€Ô_ÔLannomÔ_Ôððs€conveyance€of€the€landÏby€quitclaim€manifests€his€intent€to€not€subject€his€other€assets€to€the€gift€tax€liabilities.€ÏViewing€the€record€in€its€entirety,€we€find€no€proof€that€Ô_ÔLannomÔ_Ô€intended€the€CDs€to€beÏused€as€satisfaction€for€his€gift€tax€obligations.ÌÌà àIn€summary,€Muller€appeals€to€this€Court€asking€that€we€either€set€aside€theÏtransfers€of€the€CDs€as€fraudulent€conveyances€or€rule€that€Rankin€acquired€anÏinterest€in€said€CDs€subject€to€an€equitable€lien€or€a€constructive€trust€in€favor€ofÏMuller.€€€Thereafter,€Muller€importunes€this€Court€to€subject€the€CDs,€as€well€as€theirÏproceeds,€to€the€payment€of€Mullerððs€Ô_ÔsubrogationÔ_Ô€claim€of€indemnification€for€herÏpayment€to€the€Tennessee€Department€of€Revenue€of€Ô_ÔLannomÔ_Ôððs€1991€gift€tax€liability.€ÏWe€decline€to€do€so,€and€hereby€affirm€the€decision€of€the€trial€court.ÌòòÌóóà à€All€costs,€including€costs€of€this€appeal,€are€assessed€to€the€plaintiff€for€whichÍexecution€may€issue€if€necessary.ÌÓÓÌÌÌà àà àà àà àà àà àà àà àà àòò€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€Ïóóà àà àà àà àà àà àà àà àà àÔ_ÔHIGHERSÔ_Ô,€J.ÌÌÌÌCONCUR:ÌÌÌÌòò€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€óóÌFARMER,€J.ÌÌÌÌòò€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€óóÌÔ_ÔLILLARDÔ_Ô,€J.à àÌÔ€.Ô