28 U.S.C. § 3303 : US Code - Section 3303: Value for transfer or obligation

Search 28 U.S.C. § 3303 : US Code - Section 3303: Value for transfer or obligation

(a) Transaction. - 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, but
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) Reasonably Equivalent Value. - For the purposes of sections
3304 and 3307, a person gives a reasonably equivalent value if the
person acquires an interest of the debtor in an asset pursuant to a
regularly conducted, noncollusive foreclosure sale or execution of
a power of sale for the acquisition or disposition of such interest
upon default under a mortgage, deed of trust, or security
agreement.
(c) Present Value. - A transfer is made for present value if the
exchange between the debtor and the transferee is intended by them
to be contemporaneous and is in fact substantially contemporaneous.