Fraudulent Transfers and Conveyances

ORS 95.250
When transfer is made or obligation is incurred


For the purposes of ORS 95.200 (Definitions for ORS 95.200 to 95.310) to 95.310 (Short title):

(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 ORS 95.200 (Definitions for ORS 95.200 to 95.310) to 95.310 (Short title) that is superior to the interest of the transferee.

(2)

If applicable law permits the transfer to be perfected as provided in subsection (1) of this section and the transfer is not so perfected before the commencement of an action for relief under ORS 95.200 (Definitions for ORS 95.200 to 95.310) to 95.310 (Short title), the transfer is made immediately before the commencement of the action.

(3)

If applicable law does not permit the transfer to be perfected as provided in subsection (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 the parties.

(b)

If evidenced by a writing, when the writing executed by the obligor is delivered to or for the benefit of the obligee. [1985 c.664 §6]
§§ 95.200 to 95.310

Notes of Decisions

Where plaintiff brought products liability action against corporation and holding company entirely owned by former shareholders of corporation for asbestos related injury, corporate restructuring resulting in formation of holding company was designed for improper purpose of escaping asbestos related liabilities and holding company was successor in liability and responsible for corporations' strict liability torts. Schmoll v. Acands, Inc., 703 F Supp 868 (D. Or. 1988)


Source

Last accessed
Jun. 26, 2021