Maine § 14 §3579 Defenses, liability and protection of transferee

Maine Statutes

§ 14 §3579 — Defenses, liability and protection of transferee

Maine·Title 14 COURT PROCEDURE -- CIVIL·Part 5 PROVISIONAL REMEDIES; SECURITY·Ch. 504 UNIFORM FRAUDULENT TRANSFER ACT

1.Transfer or obligation not voidable. A transfer or obligation is not voidable under section 3575, subsection 1, paragraph A, against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.

2.Judgment. Except as otherwise provided in this section, to the extent a transfer is voidable in an action by a creditor under section 3578, subsection 1, paragraph A, the creditor may recover judgment for the value of the asset transferred, as adjusted under subsection 3, or the amount necessary to satisfy the creditor's claim, whichever is less. The judgment may be entered against:

3.Value of asset. If the judgment under subsection 2 is based upon the value of the asset transferred, the judgment must be for an amount equal to the valu

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Transfer or obligation not voidable.
A transfer or obligation is not voidable under section 3575, subsection 1, paragraph A, against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.
2.
Judgment.
Except as otherwise provided in this section, to the extent a transfer is voidable in an action by a creditor under section 3578, subsection 1, paragraph A, the creditor may recover judgment for the value of the asset transferred, as adjusted under subsection 3, or the amount necessary to satisfy the creditor's claim, whichever is less. The judgment may be entered against:
3.
Value of asset.
If the judgment under subsection 2 is based upon the value of the asset transferred, the judgment must be for an amount equal to the value of the asset at the time of the transfer, subject to adjustment as the equities may require.
4.
Rights of good-faith transferee or obligee.
Notwithstanding voidability of a transfer or an obligation under this Act, a good-faith transferee or obligee is entitled, to the extent of the value given the debtor for the transfer or obligation to:
5.
Defenses; lease termination and foreclosure of security interest.
A transfer is not voidable under section 3575, subsection 1, paragraph B, or section 3576, subsection 1, if the transfer results from:
6.
Defenses; insider transfers.
A transfer is not voidable under section 3576, subsection 2:

Maine § 14 §3579 (Defenses, liability and protection of transferee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.