11 U.S.C. § 549 : US Code - Section 549: Postpetition transactions

Search 11 U.S.C. § 549 : US Code - Section 549: Postpetition transactions

(a) Except as provided in subsection (b) or (c) of this section,
the trustee may avoid a transfer of property of the estate -
(1) that occurs after the commencement of the case; and
(2)(A) that is authorized only under section 303(f) or 542(c)
of this title; or
(B) that is not authorized under this title or by the court.
(b) In an involuntary case, the trustee may not avoid under
subsection (a) of this section a transfer made after the
commencement of such case but before the order for relief to the
extent any value, including services, but not including
satisfaction or securing of a debt that arose before the
commencement of the case, is given after the commencement of the
case in exchange for such transfer, notwithstanding any notice or
knowledge of the case that the transferee has.
(c) The trustee may not avoid under subsection (a) of this
section a transfer of an interest in real property to a good faith
purchaser without knowledge of the commencement of the case and for
present fair equivalent value unless a copy or notice of the
petition was filed, where a transfer of an interest in such real
property may be recorded to perfect such transfer, before such
transfer is so perfected that a bona fide purchaser of such real
property, against whom applicable law permits such transfer to be
perfected, could not acquire an interest that is superior to such
interest of such good faith purchaser. A good faith purchaser
without knowledge of the commencement of the case and for less than
present fair equivalent value has a lien on the property
transferred to the extent of any present value given, unless a copy
or notice of the petition was so filed before such transfer was so
perfected.
(d) An action or proceeding under this section may not be
commenced after the earlier of -
(1) two years after the date of the transfer sought to be
avoided; or
(2) the time the case is closed or dismissed.