378A.030 Value.

152 words·~1 min read·/ky/chapter-378a/378a-030

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)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.

(2)For the purposes of KRS 378A.040(1)(b) and 378A.050, 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 the interest of the debtor

upon default under a mortgage, deed of trust, or security agreement.

(3)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.