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

Indiana § 32-18-2-13

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

Text

(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.]

Legislative History

As added by P.L.2-2002, SEC.3. Amended by P.L.61-2017, SEC.12.