Ohio § 1336.03
Full text of Ohio Ohio Revised Code § 1336.03, with citation guidance and answers to common questions.
§ 1336.03.
(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 business of the promisor to furnish support to the debtor or another
person. (B) For the purposes of division (A)(2) of section 1336.04 and division (A) of section 1336.05 of the Revised Code , 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 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 in fact is substantially contemporaneous.
Frequently Asked Questions About Ohio § 1336.03
What does Ohio Revised Code § 1336.03 cover?
Section 1336.03 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1336.03?
A common citation format is "Ohio Revised Code § 1336.03" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1336.03 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.