33-206. When transfer is made or obligation is incurred. - Kansas Statutes

33-206

Chapter 33.--STATUTE OF FRAUDS; FRAUDULENT CONVEYANCES Article 2.--UNIFORM FRAUDULENT TRANSFER ACT

      33-206.   When transfer is made or obligation isincurred.For the purposes of this act:

      (a)   A transfer is made:

      (1)   With respect to an asset that is real property other than a fixture, butincluding the interest of a seller or purchaser under a contract for the saleof the asset, when the transfer is so far perfected that a good-faith purchaserof the asset from the debtor against whom applicable law permits the transferto be perfected cannot acquire an interest in the asset that is superior to theinterest of the transferee; and

      (2)   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 contractcannot acquire a judicial lien otherwise than under this act that is superiorto the interest of the transferee;

      (b)   if applicable law permits the transfer to be perfected as provided inparagraph (1) and the transfer is not so perfected before the commencement ofan action for relief under this act, the transfer is deemed made immediatelybefore the commencement of the action;

      (c)   if applicable law does not permit the transfer to be perfected asprovided in paragraph (1), the transfer is made when it becomes effectivebetween the debtor and the transferee;

      (d)   a transfer is not made until the debtor has acquired rights in the assettransferred;

      (e)   an obligation is incurred:

      (1)   If oral, when it becomes effective between the parties; or

      (2)   if evidenced by a writing, when the writing executed by the obligor isdelivered to or for the benefit of the obligee.

      History:   L. 1998, ch. 13, § 6; Jan. 1, 1999.