28 U.S.C. § 3305 : US Code - Section 3305: When transfer is made or obligation is incurred

Search 28 U.S.C. § 3305 : US Code - Section 3305: When transfer is made or obligation is incurred

For the purposes of this subchapter:
(1) 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, otherwise than
under this subchapter, a judicial lien that is superior to the
interest of the transferee.
(2) If applicable law permits the transfer to be perfected as
approved in paragraph (1) and the transfer is not so perfected
before the commencement of an action or proceeding for relief
under this subchapter, the transfer is deemed made immediately
before the commencement of the action or proceeding.
(3) If applicable law does not permit the transfer to be
perfected as provided in paragraph (1), the transfer is made when
it becomes effective between the debtor and the transferee.
(4) A transfer is not made until the debtor has acquired rights
in the asset transferred.
(5) An obligation is incurred -
(A) if oral, when it becomes effective between the parties;
or
(B) if evidenced by a writing executed by the obligor, when
such writing is delivered to or for the benefit of the obligee.