Doney & Associates PLC Home Page
 Doney & Associates PLC 
www.doney.net
480-968-3100

Conditions of use · Every effort has been made to reproduce the code accurately.  However there could be errors which would change the effect of the code.  Permission to use these materials is given only on the condition that the user will be solely responsible for verifying the accuracy of the information contained herein.x

Text size · You may adjust the size of the text from your browser's control bar: View, Text Size.

Printing · If the top menu bar stays at the top of the window as you scroll in your browser, return the browser to the top of the page before printing or the menu bar may obscure some text.  You may print selected pages of the web page by printing from File, Page Preview instead of Print.  More printing tips.

Annotations · We have added notes linking to cases and other information to some sections of the code.  You may chose to or the annotations.

Redline Display · The Bankruptcy Code shown is as amended by The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. You may choose to or the redline version showing the changes made by the act.

Link to the Code · You may link your web page directly to this version of the code, or to any subsection.  More link information.


TITLE 11.  BANKRUPTCY  ·  UNITED STATES CODE

Chapter 5.  Creditors, the Debtor and the Estate

Subchapter III.  The Estate

11 USC § 549.  Postpetition transactions

(a) Except as provided in subsection (b) or (c) of this section, the trustee may avoid a transfer of property of the estate--

(1) that occurs after the commencement of the case; and

(2)

(A) that is authorized only under section 303(f) or 542(c) of this title; or

(B) that is not authorized under this title or by the court.

(b) In an involuntary case, the trustee may not avoid under subsection (a) of this section a transfer made after the commencement of such case but before the order for relief to the extent any value, including services, but not including satisfaction or securing of a debt that arose before the commencement of the case, is given after the commencement of the case in exchange for such transfer, notwithstanding any notice or knowledge of the case that the transferee has.

(c) The trustee may not avoid under subsection (a) of this section a transfer of an interest in real property to a good faith purchaser without knowledge of the commencement of the case and for present fair equivalent value unless a copy or notice of the petition was filed, where a transfer of an interest in such real property may be recorded to perfect such transfer, before such transfer is so perfected that a bona fide purchaser of such real property, against whom applicable law permits such transfer to be perfected, could not acquire an interest that is superior to such interest of such good faith purchaser. A good faith purchaser without knowledge of the commencement of the case and for less than present fair equivalent value has a lien on the property transferred to the extent of any present value given, unless a copy or notice of the petition was so filed before such transfer was so perfected.

(d) An action or proceeding under this section may not be commenced after the earlier of--

(1) two years after the date of the transfer sought to be avoided; or

(2) the time the case is closed or dismissed.

[Rev. 5-18-05]