Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
46 lines
2.3 KiB
Markdown
46 lines
2.3 KiB
Markdown
---
|
||
type: "LegalText"
|
||
title: "28 U.S.C. § 3303"
|
||
description: "Value for transfer or obligation"
|
||
jurisdiction: "us"
|
||
corpus: "united_states_code"
|
||
kind: "code_section"
|
||
title_number: 28
|
||
title_name: "JUDICIARY AND JUDICIAL PROCEDURE"
|
||
chapter_number: "176"
|
||
chapter_name: "FEDERAL DEBT COLLECTION PROCEDURE"
|
||
section: "3303"
|
||
citation: "28 U.S.C. § 3303"
|
||
status: "current"
|
||
release_point: "119-100"
|
||
release_date: "2026-06-26"
|
||
source: "official"
|
||
source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc28@119-100.zip"
|
||
source_identifier: "/us/usc/t28/s3303"
|
||
source_file: "data/legal/raw/us/code/title-28/usc28.xml"
|
||
source_hash: "ced5b33cf9a5433bff59f66cafba881586006128f6503f95953e5c3c9f7a2923"
|
||
raw_snapshot_hash: "3390f867a2c02f5d0c496269da780795fe19663a090a3040c64a9ee0a541cdcf"
|
||
text_hash: "019bfa17f7b28e78edd766057aaf2a0253f8a8b9241392ca912e5ae3e74e1de0"
|
||
retrieved_at: "2026-07-04"
|
||
confidence: "official"
|
||
tags: ["legal", "us-code"]
|
||
---
|
||
|
||
# 28 U.S.C. § 3303 - Value for transfer or obligation
|
||
|
||
## Text
|
||
|
||
(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.
|
||
|
||
(Added Pub. L. 101–647, title XXXVI, § 3611, Nov. 29, 1990, 104 Stat. 4961.)
|
||
|
||
## Notes
|
||
|
||
Statutory Notes and Related Subsidiaries
|
||
|
||
Effective DateSection effective 180 days after Nov. 29, 1990, and applicable with respect to certain actions for debts owed the United States pending in court on that effective date, see section 3631 of Pub. L. 101–647, set out as a note under section 3001 of this title.
|