SECTIONS 3445-3449 - California Statutes

CIVIL CODE

SECTION 3445-3449

3445. As used in this chapter:
(a) "Transfer" means "transfer" as defined in Section 3439.01.
(b) "Creditor" means "creditor" as defined in Section 3439.01.
(c) "Transferee" means the person to whom property was transferred
or an obligation was incurred, or the successors or assigns of the
person.

3446. (a) In an action by a creditor for relief against a transfer
or obligation under Chapter 1 (commencing with Section 3439) of Title
2 of Part 2 of Division 4 on the ground that the transfer or
obligation is fraudulent as to the creditor, the transferee may give
an undertaking as provided in this chapter.
(b) If an undertaking is given as provided in this chapter, the
transferee may sell, encumber, transfer, convey, mortgage, pledge, or
otherwise dispose of the property or obligation, or a part thereof,
and the purchaser, encumbrancer, transferee, mortgagee, grantee, or
pledgee of the property or obligation takes, owns, holds, and
possesses the property or obligation unaffected by the action and any
judgment that is rendered in the action.

3447. The undertaking shall be conditioned that, if it is
determined in the action that the transfer or obligation was
fraudulent as to the creditor, the transferee will pay to the
creditor the lesser of the following amounts:
(a) The value of the property or obligation as estimated in the
undertaking.
(b) The amount determined in the action to be due and owing to the
creditor by the person who transferred the property or incurred the
obligation.

3448. The undertaking shall be in the lesser of the following
amounts:
(a) Double the value of the property or obligation.
(b) Double the amount of the creditor's claim in the action.

3449. The undertaking becomes effective 10 days after service of
the undertaking on the creditor.