U.S. Code » Title 28 » Part PART VI— PARTICULAR PROCEEDINGS › Chapter CHAPTER 176— FEDERAL DEBT COLLECTION PROCEDURE › Subchapter SUBCHAPTER D— FRAUDULENT TRANSFERS INVOLVING DEBTS

28 U.S.C. § 3305

When transfer is made or obligation is incurred

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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.(Added Pub. L. 101–647, title XXXVI, § 3611, Nov. 29, 1990, 104 Stat. 4962.)Statutory Notes and Related SubsidiariesEffective Date

Section 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.

Notes of Decisions
Cited in 5 cases (1 in the last 5 years), 1996–2023 · leading case: United States v. Resnick, 594 F.3d 562 (7th Cir. 2010).
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United States v. Resnick, 594 F.3d 562 (7th Cir. 2010). “” 28 U.S.C. § 3305 (4). Poeta argues that since Res-nick acquired the money through fraud, he was never the legal “owner” of any funds that he transferred from the Universal account.”
In Re Phillips & Hornsby Litig., 306 F. Supp. 2d 631 (M.D. La. 2004). · cites it 2× “28 U.S.C. § 3305 (4). 16 . Mem. in Opp. to Mot.”
United States v. Lombardi, 924 F. Supp. 361 (D.R.I. 1996). “28 U.S.C. § 3305 (1). In order to determine the point at which a hypothetical good faith purchaser from Lombardi would have been unable to acquire an interest superior to Lombardi’s children, one must look to Rhode Island law.”
Samson v. Spencer (Bankr. S.D. Ill. 2023). “Pursuant to 28 U.S.C. § 3305 , “[a] transfer is not made until the debtor has acquired rights in the asset transferred.”
United States v. Dominick Poeta (7th Cir. 2010). “08-4039 28 U.S.C. § 3305 (4). Poeta argues that since Resnick ac- quired the money through fraud, he was never the legal “owner” of any funds that he transferred from the Universal account.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.