The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
VOIDABLE TRANSACTIONS
(Cite as: 9 V.S.A. § 2290)
-
§ 2290. When transfer is made or obligation is incurred
For the purposes of this chapter:
(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 a
judicial lien otherwise than under this chapter that is superior to the interest of
the transferee;
(2) if applicable law permits the transfer to be perfected as provided in subdivision
(1) of this section and the transfer is not so perfected before the commencement of
an action for relief under this chapter, the transfer is deemed made immediately before
the commencement of the action;
(3) if applicable law does not permit the transfer to be perfected as provided in subdivision
(1) of this section, 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 parties; or
(B) if evidenced by a record, when the record signed by the obligor is delivered to or
for the benefit of the obligee. (Added 1995, No. 179 (Adj. Sess.), § 14; amended 2017, No. 20, § 1.)