New York Laws
Article 10 - Uniform Voidable Transactions Act.
272 - Value.

(b) For the purposes of paragraph two of subdivision (a) of section
two hundred seventy-three and section two hundred seventy-four of this
article, 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.

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