(1) 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.
(2) For the purposes of sections 38-8-105 and 38-8-106, 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 sale, foreclosing on assets subject to a lien, or pursuant to the 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.
(3) 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.
Source: L. 91: Entire article added, p. 1684, � 1, effective July 1.
Editor's note - Colorado legislative change: This section was numbered as section 3 in the uniform act. In subsection (2), after conducted,, the phrase noncollusive foreclosure sale or execution has been changed to noncollusive sale, foreclosing on assets subject to a lien, or pursuant to the execution.
38-8-105. Transfer or obligation voidable as to present and future creditors. (1) A transfer made or obligation incurred by a debtor is voidable as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:
(a) With actual intent to hinder, delay, or defraud any creditor of the debtor; or
(b) Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor:
(I) Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or
(II) Intended to incur, or believed or reasonably should have believed that the debtor would incur, debts beyond the debtor's ability to pay as they became due.
(2) In determining actual intent under subsection (1)(a) of this section, consideration may be given, among other factors, to whether:
(a) The transfer or obligation was to an insider;
(b) The debtor retained possession or control of the property transferred after the transfer;
(c) The transfer or obligation was disclosed or concealed;
(d) Before the transfer was made or obligation was incurred, the debtor had been sued or threatened with suit;
(e) The transfer was of substantially all the debtor's assets;
(f) The debtor absconded;
(g) The debtor removed or concealed assets;
(h) The value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred;
(i) The debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred;
(j) The transfer occurred shortly before or shortly after a substantial debt was incurred; and
(k) The debtor transferred the essential assets of the business to a lienor that transferred the assets to an insider of the debtor.
(3) A creditor making a claim for relief under subsection (1) of this section has the burden of proving the elements of the claim for relief by a preponderance of the evidence.
(4) It is the intent of the general assembly that the last paragraph of comment eight to section four of the Uniform Voidable Transactions Act, as amended in 2014 by the Uniform Law Commission, does not apply in Colorado.
Source: L. 91: Entire article added, p. 1685, � 1, effective July 1. L. 2025: IP(1), (1)(b)(II), IP(2), and (2)(k) amended and (3) and (4) added, (SB 25-133), ch. 57, p. 239, � 4, effective August 6.
Editor's note: (1) Colorado legislative change: This section was numbered as section 4 in the uniform act.
(2) Section 12 of chapter 57 (SB 25-133), Session Laws of Colorado 2025, provides that the act changing this section applies to claims filed on or after August 6, 2025.