* § 278. Rights of creditors whose claims have matured. 1. Where a\nconveyance or obligation is fraudulent as to a creditor, such creditor,\nwhen his claim has matured, may, as against any person except a\npurchaser for fair consideration without knowledge of the fraud at the\ntime of the purchase, or one who has derived title immediately or\nmediately from such a purchaser,\n a. Have the conveyance set aside or obligation annulled to the extent\nnecessary to satisfy his claim, or\n b. Disregard the conveyance and attach or levy execution upon the\nproperty conveyed.\n 2. A purchaser who without actual fraudulent intent has given less\nthan a fair consideration for the conveyance or obligation, may retain\nthe property or obligation as security for repayment.\n * NB Effective until April 4, 2020\n * § 278. Extinguishment of claim for relief. A claim for relief with\nrespect to a transfer or obligation under this article is extinguished\nunless action is brought:\n (a) under paragraph one of subdivision (a) of section two hundred\nseventy-three of this article, not later than four years after the\ntransfer was made or the obligation was incurred or, if later, not later\nthan one year after the transfer or obligation was or could reasonably\nhave been discovered by the claimant;\n (b) under paragraph two of subdivision (a) of section two hundred\nseventy-three or subdivision (a) of section two hundred seventy-four of\nthis article, not later than four years after the transfer was made or\nthe obligation was incurred; or\n (c) under subdivision (b) of section two hundred seventy-four of this\narticle, not later than one year after the transfer was made.\n * NB Effective April 4, 2020\n
§ 278. Extinguishment of claim for relief. A claim for relief with\nrespect to a transfer or obligation under this article is extinguished\nunless action is brought:\n (a) under paragraph one of subdivision (a) of section two hundred\nseventy-three of this article, not later than four years after the\ntransfer was made or the obligation was incurred or, if later, not later\nthan one year after the transfer or obligation was or could reasonably\nhave been discovered by the claimant;\n (b) under paragraph two of subdivision (a) of section two hundred\nseventy-three or subdivision (a) of section two hundred seventy-four of\nthis article, not later than four years after the transfer was made or\nthe obligation was incurred; or\n (c) under subdivision (b) of section two hundred seventy-four of this\narticle, not later than one year after the transfer was made.\n
