25-6-4 - Value -- Transfer. - Utah Statutes

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25-6-4. Value -- Transfer.
(1) Value is given for a transfer or an obligation if, in exchange for the transfer orobligation, property is transferred or an antecedent debt is secured or satisfied. However, valuedoes not include an unperformed promise made other than in the ordinary course of thepromisor's business to furnish support to the debtor or another person.
(2) Under Subsection 25-6-5(1)(b) and Section 25-6-6, a person gives a reasonablyequivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularlyconducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition ordisposition of the interest of the debtor upon default under a mortgage, deed of trust, or securityagreement.
(3) A transfer is made for present value if the exchange between the debtor and thetransferee is intended by them to be contemporaneous and is in fact substantiallycontemporaneous.

Enacted by Chapter 59, 1988 General Session

State Codes and Statutes

Statutes > Utah > Title-25 > Chapter-06 > 25-6-4

25-6-4. Value -- Transfer.
(1) Value is given for a transfer or an obligation if, in exchange for the transfer orobligation, property is transferred or an antecedent debt is secured or satisfied. However, valuedoes not include an unperformed promise made other than in the ordinary course of thepromisor's business to furnish support to the debtor or another person.
(2) Under Subsection 25-6-5(1)(b) and Section 25-6-6, a person gives a reasonablyequivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularlyconducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition ordisposition of the interest of the debtor upon default under a mortgage, deed of trust, or securityagreement.
(3) A transfer is made for present value if the exchange between the debtor and thetransferee is intended by them to be contemporaneous and is in fact substantiallycontemporaneous.

Enacted by Chapter 59, 1988 General Session

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State Codes and Statutes

Statutes > Utah > Title-25 > Chapter-06 > 25-6-4

25-6-4. Value -- Transfer.
(1) Value is given for a transfer or an obligation if, in exchange for the transfer orobligation, property is transferred or an antecedent debt is secured or satisfied. However, valuedoes not include an unperformed promise made other than in the ordinary course of thepromisor's business to furnish support to the debtor or another person.
(2) Under Subsection 25-6-5(1)(b) and Section 25-6-6, a person gives a reasonablyequivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularlyconducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition ordisposition of the interest of the debtor upon default under a mortgage, deed of trust, or securityagreement.
(3) A transfer is made for present value if the exchange between the debtor and thetransferee is intended by them to be contemporaneous and is in fact substantiallycontemporaneous.

Enacted by Chapter 59, 1988 General Session