California Civil Code

§ 3446

CIV § 3446 Effective Jan 1, 2016Div. 4 · Title 2 · Part 2 · Ch. 3

Statute text

(a)In an action by a creditor for relief against a transfer or obligation under Chapter 1 (commencing with Section 3439) of Title 2 of Part 2 of Division 4 on the ground that the transfer or obligation is voidable as to the creditor, the transferee may give an undertaking as provided in this chapter.

(b)If an undertaking is given as provided in this chapter, the transferee may sell, encumber, transfer, convey, mortgage, pledge, or otherwise dispose of the property or obligation, or a part thereof, and the purchaser, encumbrancer, transferee, mortgagee, grantee, or pledgee of the property or obligation takes, owns, holds, and possesses the property or obligation unaffected by the action and any judgment that is rendered in the action.

Legislative history

Amended by Stats. 2015, Ch. 44, Sec. 17. (SB 161) Effective January 1, 2016.