California Civil Code

§ 3439.08

CIV § 3439.08 Effective Jan 1, 2016Div. 4 · Title 2 · Part 2 · Ch. 1

Statute text

(a)A transfer or obligation is not voidable under paragraph (1) of subdivision (a) of Section 3439.04, against a person that took in good faith and for a reasonably equivalent value given the debtor or against any subsequent transferee or obligee.

(b)To the extent a transfer is avoidable in an action by a creditor under paragraph (1) of subdivision (a) of Section 3439.07, the following rules apply:

(1)Except as otherwise provided in this section, the creditor may recover judgment for the value of the asset transferred, as adjusted under subdivision (c), or the amount necessary to satisfy the creditor’s claim, whichever is less. The judgment may be entered against the following:

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Legislative history

Amended by Stats. 2015, Ch. 44, Sec. 10. (SB 161) Effective January 1, 2016.