Effective: September 28, 1990
Latest Legislation: House Bill 506 - 118th General Assembly
For the purposes of this chapter:
(A)(1) A transfer is made if either of the following applies:
(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;
(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)(a) If applicable law permits the transfer to be perfected as provided in division (A) of this section and the transfer is not so perfected before the commencement of an action for relief arising out of a transfer that is fraudulent under section 1336.04 or 1336.05 of the Revised Code, the transfer is deemed made immediately before the commencement of the action.
(b) If applicable law does not permit the transfer to be perfected as provided in division (A) of this section, the transfer is made when it becomes effective between the debtor and the transferee.
(3) A transfer is not made until the debtor has acquired rights in the asset transferred.
(B) An obligation is incurred as follows:
(1) If oral, when it becomes effective between the parties;
(2) If evidenced by a writing, when the writing executed by the obligor is delivered to or for the benefit of the obligee.