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TITLE 11.
BANKRUPTCY · UNITED STATES CODE
Chapter 5.
Creditors, the Debtor and the Estate
Subchapter III. The Estate
11
USC § 544. Trustee as lien creditor and as successor to certain
creditors and purchasers
(a) The trustee shall have, as of the commencement of the case, and without
regard to any knowledge of the trustee or of any creditor, the rights and
powers of, or may avoid any transfer of property of the debtor or any
obligation incurred by the debtor that is voidable by--
(1) a creditor that extends credit to the debtor at the time of the
commencement of the case, and that obtains, at such time and with respect to
such credit, a judicial lien on all property on which a creditor on a simple
contract could have obtained such a judicial lien, whether or not such a
creditor exists;
(2) a creditor that extends credit to the debtor at the time of the
commencement of the case, and obtains, at such time and with respect to such
credit, an execution against the debtor that is returned unsatisfied at such
time, whether or not such a creditor exists; or
(3) a bona fide purchaser of real property, other than fixtures, from the
debtor, against whom applicable law permits such transfer to be perfected,
that obtains the status of a bona fide purchaser and has perfected such
transfer at the time of the commencement of the case, whether or not such a
purchaser exists.
(b)
(1) Except as provided in paragraph (2), the trustee may avoid any
transfer of an interest of the debtor in property or any obligation incurred
by the debtor that is voidable under applicable law by a creditor holding an
unsecured claim that is allowable under section
502 of this title or that is not allowable only under section
502(e) of this title.
(2) Paragraph (1) shall not apply to a transfer of a charitable
contribution (as that term is defined in section
548(d)(3)) that is not covered under section
548(a)(1)(B), by reason of section
548(a)(2). Any claim by any person to recover a transferred contribution
described in the preceding sentence under Federal or State law in a Federal
or State court shall be preempted by the commencement of the case.
[Rev. 5-17-05]
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