New Jersey § 25:2-24

§ 25:2-24.

a. Value is given for a transfer or an obligation if, in exchange for the transfer

or obligation, property is transferred or an antecedent debt is secured or satisfied,

but value does not include an unperformed promise made otherwise than in the ordinary

course of the promisor's business to furnish support to the debtor or another person. b. For the purposes of paragraph (2) of subsection a. of R.S.25:2-25 and R.S.25:2-27 , a person gives a reasonably equivalent value if the person acquires an interest

of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure

sale or execution of a power of sale for the acquisition or disposition of the interest

of the debtor upon default under a mortgage, deed of trust, or security agreement. c. A transfer is made for present value if the exchange between the debtor and the

transferee is intended by them to be contemporaneous and is in fact substantially

contemporaneous.