{"data":{"id":"us-ky/krs-378a.060","jurisdiction":"us-ky","citation":"KRS 378A.060","heading":"When transfer is made or obligation is incurred.","body":"For the purposes of this chapter:\n(1) A transfer is made:\n(a) With respect to an asset that is real property other than a fixture, but including\nthe interest of a seller or purchaser under a contract for the sale of the asset,\nwhen the transfer is so far p erfected that a good -faith purchaser of the asset\nfrom the debtor against which applicable laws permit the transfer to be\nperfected cannot acquire an interest in the asset that is superior to the interest\nof the transferee; and\n(b) With respect to an asset  that is not real property or that is a fixture, when the\ntransfer is so far perfected that a creditor on a simple contract cannot acquire a\njudicial lien otherwise than under this chapter that is superior to the interest of\nthe transferee.\n(2) If applicable law permits the transfer to be perfected as provided in subsection (1)\nof this section, and the transfer is not so perfected before the commencement of an\naction for relief under this chapter, the transfer is deemed made immediately before\nthe commencement of the action.\n(3) If applicable law does not permit the transfer to be perfected as provided in\nsubsection (1) of this section, the transfer is made when it becomes effective\nbetween the debtor and the transferee.\n(4) A transfer is not made until the debtor has acquired rights in the asset transferred.\n(5) An obligation is incurred:\n(a) If oral, when it becomes effective between the parties; or\n(b) If evidenced by a record, when the record, signed by the obligor, is delivered\nto or for the benefit of the obligee.","path":["KRS Chapter 378A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44726","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:09Z","sha256":"4da64ba2de49574fd9266209f8b6ffeb6af79aefa71b37a4137523150662d06f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-378a.050","next":"us-ky/krs-378a.070"},"notice":"GroundRules: Original legal text. Not legal advice."}