2014 US Code
Title 28 - Judiciary and Judicial Procedure (Sections 1 - 5001)
Part VI - Particular Proceedings (Sections 2201 - 5001)
Chapter 176 - Federal Debt Collection Procedure (Sections 3001 - 3308)
Subchapter D - Fraudulent Transfers Involving Debts (Sections 3301 - 3308)
Sec. 3303 - Value for transfer or obligation
Publication Title | United States Code, 2012 Edition, Supplement 2, Title 28 - JUDICIARY AND JUDICIAL PROCEDURE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 28 - JUDICIARY AND JUDICIAL PROCEDURE PART VI - PARTICULAR PROCEEDINGS CHAPTER 176 - FEDERAL DEBT COLLECTION PROCEDURE SUBCHAPTER D - FRAUDULENT TRANSFERS INVOLVING DEBTS Sec. 3303 - Value for transfer or obligation |
Contains | section 3303 |
Date | 2014 |
Laws In Effect As Of Date | January 5, 2015 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Added Pub. L. 101-647, title XXXVI, §3611, Nov. 29, 1990, 104 Stat. 4961. |
Statutes at Large Reference | 104 Stat. 4961 |
Public and Private Law | Public Law 101-647 |
Download PDF
(a) Transaction.—Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor's business to furnish support to the debtor or another person.
(b) Reasonably Equivalent Value.—For the purposes of sections 3304 and 3307, a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of such interest upon default under a mortgage, deed of trust, or security agreement.
(c) Present Value.—A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous.
(Added Pub. L. 101–647, title XXXVI, §3611, Nov. 29, 1990, 104 Stat. 4961.)
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.