684.3 Value. 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 valuedoes not include an unperformed promise made otherwise than in the ordinary course of thepromisor’s business to furnish support to the debtor or another person. 2. For the purposes of section 684.4, subsection 1, paragraph 'b', and section 684.5, a person gives a reasonably equivalent value if the person acquires an interest of the debtorin an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution ofa power of sale for the acquisition or disposition of the interest of the debtor upon defaultunder 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 substantiallycontemporaneous. 94 Acts, ch 1121, §7 Sat Dec 23 12:25:56 2023 Iowa Code 2024, Section 684.3 (15, 0)
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