Section 5102 – Insolvency
§ 5102. Insolvency. (a) General rule.–A debtor is insolvent if, at fair valuation, the sum of the debtor’s debts is greater than the sum of the debtor’s assets. (b) Presumption of insolvency.–A debtor that is generally not paying the debtor’s debts as they become due other than as a result of a bona fide dispute […]
Section 5103 – Value
§ 5103. Value. (a) General rule.–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 […]
Section 5104 – Transfer or obligation voidable as to present or future creditor
§ 5104. Transfer or obligation voidable as to present or future creditor. (a) General rule.–A transfer made or obligation incurred by a debtor is voidable as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the […]
Section 5105 – Transfer or obligation voidable as to present creditor
§ 5105. Transfer or obligation voidable as to present creditor. (a) General rule.–A transfer made or obligation incurred by a debtor is voidable as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent […]
Section 5106 – When transfer is made or obligation is incurred
§ 5106. When transfer is made or obligation is incurred. For the purposes of this chapter: (1) A transfer is made: (i) 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 […]
Section 5107 – Remedies of creditor
§ 5107. Remedies of creditor. (a) Available remedies.–In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in sections 5108 (relating to defenses, liability and protection of transferee or obligee) and 5109 (relating to extinguishment of claim for relief), may obtain: (1) Avoidance of the transfer […]
Section 5108 – Defenses, liability and protection of transferee or obligee
§ 5108. Defenses, liability and protection of transferee or obligee. (a) Certain transfers or obligations not voidable.–A transfer or obligation is not voidable under section 5104(a)(1) (relating to transfer or obligation voidable as to present or future creditor) against a person that took in good faith and for a reasonably equivalent value given the debtor […]
Section 5109 – Extinguishment of claim for relief
§ 5109. Extinguishment of claim for relief. A claim for relief with respect to a transfer or obligation under this chapter is extinguished unless action is brought: (1) under section 5104(a)(1) (relating to transfer or obligation voidable as to present or future creditor), not later than four years after the transfer was made or the […]
Section 5110 – Governing law
§ 5110. Governing law. (a) Location of debtor.–In this section, the following rules determine a debtor’s location: (1) A debtor who is an individual is located at the individual’s principal residence. (2) A debtor that is an organization and has only one place of business is located at the organization’s place of business. (3) A […]
Section 5111 – Application to series organization
§ 5111. Application to series organization. (a) Separate person.–A series organization and a protected series of the series organization is a separate person for purposes of this chapter, even if for other purposes a protected series is not a person separate from the series organization or other protected series of the series organization. (b) Definitions.–As […]