Defined ~ Transfer And When Made
Site.Mainuvta0116definitiontransfer History
Hide minor edits - Show changes to markup
COURT OPINIONS: DEFINITION OF TRANSFER AND WHEN TRANSFERS OCCUR
ARTICLES ON DEFINITION OF TRANSFER AND WHEN TRANSFERS OCCUR
- 2019.03.31 ... Voidability Of Sham Lawsuit And Judgment At Issue In Chen
- 2019.02.12 ... Why The Mere Incorporation Or Formation Process For A New Entity Is Not A Fraudulent Transfer
- 2019.01.30 ... Resignation Of Corporate Officer Not A Fraudulent Transfer In Texas Opinion
- 2017.12.18 ... Revocation Of A Company's S-Election By Shareholders Not Deemed A Voidable Transaction In Arrowsmith
- 2012.07.31 ... Howrey: When The Sinking Ship Seeks The Cheese Back From The Fleeing Rats
- 2011.08.13 ... Dad's Looting Of Corporation By Making Gifts To His Kids Gets Them Caught Up In Fraudulent Transfers
DEFINITION OF "TRANSFER" AND WHEN MADE
DEFINITION OF "TRANSFER" AND WHEN MADE
(1) a transfer is made:
(i) with respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good-faith purchaser of the asset from the debtor against which applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee; and
(ii) with respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this [Act] that is superior to the interest of the transferee;
(2) if applicable law permits the transfer to be perfected as provided in paragraph (1) and the transfer is not so perfected before the commencement of an action for relief under this [Act], the transfer is deemed made immediately before the commencement of the action;
(3) if applicable law does not permit the transfer to be perfected as provided in paragraph (1), the transfer is made when it becomes effective between the debtor and the transferee;
(4) a transfer is not made until the debtor has acquired rights in the asset transferred; and
(5) an obligation is incurred:
(i) if oral, when it becomes effective between the parties; or
(ii) if evidenced by a record, when the record signed by the obligor is delivered to or for the benefit of the obligee.
(i) with respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good-faith purchaser of the asset from the debtor against which applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee; and
(ii) with respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this [Act] that is superior to the interest of the transferee;
(i) if oral, when it becomes effective between the parties; or
(ii) if evidenced by a record, when the record signed by the obligor is delivered to or for the benefit of the obligee.
(:title TOPICSHORT:) (:Summary: TOPICLONG:) (:description TOPICLONG:) (:keywords voidable transaction, uvta, fraudulent transfer, ufta, fraudulent conveyance, TOPIC:)
(:title Defined ~ Transfer And When Made:) (:Summary: Defined ~ Transfer And When Made:) (:description Defined ~ Transfer And When Made:) (:keywords voidable transaction, uvta, fraudulent transfer, ufta, fraudulent conveyance, transfer, perfection, time:)
TOPIC Definition PAGENAME
Transfer Definition Mainuvta0116definitiontransfer
TEXT
DEFINITION OF "TRANSFER" AND WHEN MADE
TEXT OPINIONS
(:pagelist link=Category.TEXT list=normal fmt=title:)
"TRANSFER" DEFINED
§ 1(16) "Transfer" means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, license, and creation of a lien or other encumbrance.
SECTION 6. WHEN TRANSFER IS MADE OR OBLIGATION IS INCURRED.
For the purposes of this [Act]:
(1) a transfer is made:
(i) with respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good-faith purchaser of the asset from the debtor against which applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee; and
(ii) with respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this [Act] that is superior to the interest of the transferee;
(2) if applicable law permits the transfer to be perfected as provided in paragraph (1) and the transfer is not so perfected before the commencement of an action for relief under this [Act], the transfer is deemed made immediately before the commencement of the action;
(3) if applicable law does not permit the transfer to be perfected as provided in paragraph (1), the transfer is made when it becomes effective between the debtor and the transferee;
(4) a transfer is not made until the debtor has acquired rights in the asset transferred; and
(5) an obligation is incurred:
(i) if oral, when it becomes effective between the parties; or
(ii) if evidenced by a record, when the record signed by the obligor is delivered to or for the benefit of the obligee.
(1) a transfer is made:
(i) with respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good-faith purchaser of the asset from the debtor against which applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee; and
(ii) with respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this [Act] that is superior to the interest of the transferee;
(2) if applicable law permits the transfer to be perfected as provided in paragraph (1) and the transfer is not so perfected before the commencement of an action for relief under this [Act], the transfer is deemed made immediately before the commencement of the action;
(3) if applicable law does not permit the transfer to be perfected as provided in paragraph (1), the transfer is made when it becomes effective between the debtor and the transferee;
(4) a transfer is not made until the debtor has acquired rights in the asset transferred; and
(5) an obligation is incurred:
(i) if oral, when it becomes effective between the parties; or
(ii) if evidenced by a record, when the record signed by the obligor is delivered to or for the benefit of the obligee.
COURT OPINIONS: DEFINITION OF TRANSFER AND WHEN TRANSFERS OCCUR
TRANSFER OPINIONS
(:pagelist link=Category.Transfer list=normal fmt=title:)
(:title TOPICSHORT:)
(:Summary: TOPICLONG:)
(:description TOPICLONG:)
(:keywords voidable transaction, uvta, fraudulent transfer, ufta, fraudulent conveyance, TOPIC:)
(:linebreaks:)
TOPIC Definition PAGENAME
TEXT
TEXT OPINIONS
(:pagelist link=Category.TEXT list=normal fmt=title:)