Indiana § 32-18-2-13 Value; when given; default under mortgage, deed of trust, or security
agreement

Indiana Statutes

§ 32-18-2-13 — Value; when given; default under mortgage, deed of trust, or security agreement

Indiana·Title 32 PROPERTY·Art. 18 INTERESTS OF CREDITORS IN PROPERTY·Ch. 2 Uniform Fraudulent Transfer Act

(a)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. 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)For purposes of sections 14(a)(2) and 15 of this chapter, a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset through a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of the interest of the debtor upon default under a mortgage, deed of trust, or security agreement. [Pre-2002 Recodification Citation: 32-2-7-13.]

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(a) 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. 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) For purposes of sections 14(a)(2) and 15 of this chapter, a person
gives a reasonably equivalent value if the person acquires an interest
of the debtor in an asset through a regularly conducted, noncollusive
foreclosure sale or execution of a power of sale for the acquisition or
disposition of the interest of the debtor upon default under a mortgage,
deed of trust, or security agreement.
[Pre-2002 Recodification Citation: 32-2-7-13.]

Indiana § 32-18-2-13 (Value; when given; default under mortgage, deed of trust, or security agreement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.