bancruptcy/foreclosure sale of assets

[Mary Jay]

I am not in a financial trouble but just for a general knowledge (times are very uncertain these days, today we have our jobs, tomorrow we may not) so I would like to ask you guys, and hope you know the answer to this:

Lets say I sell an asset to somebody (could it be a relative, by the way) and lets say I go through a bankruptcy or foreclosure on another property, can a bankruptcy court go after the buyer who purchased my asset?

For example, lets say I am planning to file for bankruptcy or one of my rental properties is going into foreclosure, And lets say few months ago or a year ago I sold another paid off property to somebody. Can bancruptcy court go after that sold asset or that somebody who purchased the asset and reverse the sale?
 I think no... right?

Is there a time limitation that the court wont go after that asset? For example, lets say if it was sold 2 month ago then the court still may go after and reverse the sale? Or may be after one year? or is there a time frame?

Thank you!