§ 34-14-207 — When transfer is made or obligation is incurred

(a) For purposes of this act:
(i) A transfer is made:
(A) 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 whom 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
(B) 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.
(b) If applicable law permits the transfer to be perfected
as provided in subsection (a) of this section 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.
(c) If applicable law does not permit the transfer to be
perfected as provided in subsection (a) of this section, the
transfer is made when it becomes effective between the debtor
and the transferee.
(d) A transfer is not made until the debtor has acquired
rights in the asset transferred.
(e) An obligation is incurred:
(i) If oral, when it becomes effective between the
parties; or
(ii) If evidenced by a writing, when the writing
executed by the obligor is delivered to or for the benefit of
the obligee.