Transferee

“ It is the transfer of mediate possession, while the immediate possession remains in the transferor. Any thing may be effectually delivered by means of an agreement that the possessor of it shall for the future hold it no longer on his own account but on account of some one else. No physical dealing with the thing is requisite, because by the mere agreement mediate possession is acquired by the transferee, through the immediate possession retained by the transferor and held on the other’s behalf. ”

“ What Hilton's argument fails to acknowledge, however, is the basic rationale for distinguishing in section 550 between initial and subsequent transferees. An initial transferee is exposed to stricter liability than a subsequent transferee because an initial transferee is in the best position to evaluate whether the conveyance is fraudulent. See Bonded Fin. Servs., 838 F.2d at 892-93. Where, as here, a transferee receives funds directly from a debtor, the transferee's capacity to monitor - and, accordingly, its burden to monitor - is at its greatest. ”

“ So too, if one spouse were to make a voluntary transfer of his or her one-half interest to the other spouse, I should not think it could be said that the transferee's prior interest had been extinguished. ”

“ If a trade, business or undertaking is transferred from one person to another, the period of employment of an employee in the trade, business or undertaking at the time of the transfer shall count as a period of employment with the transferee, and the transfer shall not break the continuity of the period of employment. ”

“ In many respects a transferee such as appellee stands in the same relation to the Commission as an original applicant for permission to operate. Many inquiries which are elevant to the initial application are equally relevant to the proposed transfer. Section 206 (a) , with immaterial exceptions, permits common carriers by motor vehicles to operate only if the carrier has first obtained a certificate of public convenience and necessity. ”

“ It is provided that the transfer shall be deemed to have been made when it has become so far perfected that neither a bona-fide purchaser nor creditor could thereafter have acquired rights superior to those of the transferee. As thus drafted, it includes a failure to record and any other ground which could be asserted by a bona-fide purchaser or a creditor of the transferor, as against the transferee. ”

“ Every allottee of shares upon allotment and every transferee upon transfer should be required to make a declaration disclosing his nationality and whether he is the beneficial owner of the shares, and, if not, for whom he is trustee, and what is the nationality of the beneficial owner, and should undertake within a limited time, after any change in the beneficial ownership, to communicate the new facts to the company. ”

“ Section 47:
'A registered owner of land desiring to transfer his whole estate or interest therein, or some distinct part or parcel thereof, or some undivided interest therein, or to grant out of his estate an estate for life or for a term of not less than ten years, may execute to the intended transferee a deed or instrument of conveyance in any form authorized by law for that purpose. ”

“ We are of opinion that a transfer without valuable consideration, with the intent that the transferor shall, as the statute provides, cease to exist, made in accordance with the statute, has all the elements of a merger and comes within the principle that the corporate personality of the transferor is drowned in that of the transferee. It results that the continuing corporation may deduct unamortized bond discount and expense in respect of the obligations of the transferring affiliate. ”

“ The trustee is entitled to only a single satisfaction under subsection (a) of this section. (e) (1) A good faith transferee from whom the trustee may recover under subsection (a) of this section has a lien on the property recovered to secure the lesser of— (A) the cost, to such transferee, of any improvement made after the transfer, less the amount of any profit realized by or accruing to such transferee from such property ”

“ In this case, if the transfer agent has entered the name and address of the transferee in the part of a set of the register of shareholders, the entry of a change of holders under paragraph (1) shall be deemed to have been duly effected.
Article 338 (Pledging of Registered Shares)
(1) In order to have a registered share pledged, the share certificate shall be delivered to the pledgee.
(2) Without being in possession of the share certificate, a pledgee shall not assert his pledge right against third persons. ”

“ To the extent of any interest therein of which the decedent has at any time made a transfer, by trust or otherwise, in contemplation of or intended to take effect in possession or enjoyment at or after his death, including a transfer under which the transferor has retained for his life or any period not ending before his death (a) the possession or enjoyment of, or the income from, the property or (b) the right to designate the persons who shall possess or enjoy the property or the income therefrom. ”

“ No person may be transferred as herein authorized, except as provided in section 1, clause (d) , until after absolute appointment and until the Commission shall have certified to the officer making the transfer requisition that the person whom it is proposed to transfer has passed an examination to test fitness for the place to which he is to be transferred: Provided, That no person who has been appointed from the copyist register shall be transferred to a place the salary of which is more than $900 per annum until one year after appointment. ”

“ Whenever a person is proposed for transfer from one branch of the service to another branch of the service and from a part of the service not within the provisions regulating apportionment to a part of the service within said provisions, and the transfer is one which under the provisions of this rule may be allowed without examination, such person shall be required precedent to his transfer to file a statement under oath setting forth the same facts, accompanied by the same certificates or vouchers relating to residence, as may be required in an application for examination. ”

“ CORRESPONDING TRANSFER OF ASSETS AND PERSONNEL.—In connection with the transfer of authority under paragraph (1) , the Secretary may transfer within the Department of Health and Human Services such assets, funds, personnel, records, and other property relating to the transferred authority as the Secretary determines to be appropriate. ”

“ An able receivership often results in the adjustment of difficulties and the return of the property to its owners on a paying basis. While in the case of assignee the appointment is by the individual, partnership, or corporation executing the deed of assignment which specifies the powers and duties of the assignee, in the case of receiver the appointment is by a court and the company so appointed acts as an appointee or ministerial officer of the court, and as such is directly subject to the court's orders. ”

“ It is there provided that "transfer' shall include the sale and every other and different mode of disposing of or parting with property or the possession of property, absolutely or conditionally, as a payment, pledge, mortgage, gift, or security.' It seems necessarily to mean that a transfer of property includes the giving or conveying anything of value,-anything which has debt-paying or debt-securing power. ”

“ In general.—If— `` (A) a non-skip person has an interest or a future interest in a trust to which any transfer has been made, `` (B) such person— `` (i) is a lineal descendant of a grandparent of the transferor or of a grandparent of the transferor's spouse or former spouse, and `` (ii) is assigned to a generation below the generation assignment of the transferor, and `` (C) such person predeceases the transferor, then the transferor may make an allocation of any of such transferor's unused GST exemption to any previous transfer or transfers to the trust on a chronological basis. ”

“ As illustrating transfers found to be related to purposes associated with life, rather than with the distribution of property in anticipation of death, the Government mentions transfers made 'for the purpose of relieving the donor of the cares of management or in order that his children may experience the responsibilities of business under his guidance and supervision.' The illustrations are useful but not exhaustive. The purposes which may be served by gifts are of great variety. ”

“ Trustee-to-trustee transfers to purchase permissive service credit.—No amount shall be includible in gross income by reason of a direct trustee-to-trustee transfer to a defined benefit governmental plan (as defined in section 414 (d) ) if such transfer is— `` (A) for the purchase of permissive service credit (as defined in section 415 (n) (3) (A) ) under such plan, or `` (B) a repayment to which section 415 does not apply by reason of subsection (k) (3) thereof.''. (c) Effective Date.—The amendments made by this section shall apply to trustee-to-trustee transfers after December 31, 2001. ”

“ Use of appreciated carryover basis property to satisfy pecuniary bequest.''. (e) Amendments Related to Carryover Basis.— (1) Recognition of gain on transfers to nonresidents.— (A) Subsection (a) of section 684 is amended by inserting ``or to a nonresident alien'' after ``or trust''. (B) Subsection (b) of section 684 is amended to read as follows: `` (b) Exceptions.— `` (1) Transfers to certain trusts.—Subsection (a) shall not apply to a transfer to a trust by a United States person to the extent that any United States person is treated as the owner of such trust under section 671. ”

“ Where the goods of a consignment are not all sent on board at the same time, it is usual for the master, mate, or other person in charge of the deck, and acting for the carrier, to give a receipt for the parcels as they are received, and when the whole consignment is delivered, the master, upon those receipts being given up, will sign two or three, or, if requested, even four bills of lading in the usual form, one being for the ship and the others for the shipper. ”

“ Knowledge of the transfer seems to have finally come to them, not through any exertion of their own to inform themselves of the facts, but by an accidental meeting with a lawyer from Minnesota, who had in some way,-probably by an examination of the title, become cognizant of the defect in the transfer. ”

“ It was equally well advised, that the sole purpose of the head of that department was to effect the transfer of the first instalment, in a manner most beneficial to the claimants. The president of the bank, in his reply of the 5th of November, evidently regarded the proposition as one invoking the agency of the bank. He expresses himself as very willing to offer such suggestions as occur to him, in regard to the transfer of the first instalment. ”

“ Measures of transfer are those which have affected or will affect the ownership of enemy property by transferring it in whole or in part to a person other than the enemy owner, and without his consent, such as measures directing the sale, liquidation or devolution of ownership in enemy property, or the cancelling of titles or securities. ”

“ In connection with any such transfer, the President may, under this section or other applicable authority, provide for appropriate transfers of records, property, civilian personnel, and funds. (b) Whenever any such transfer is made before January 1, 1959, the President shall transmit to the Speaker of the House of Representatives and the President pro tempore of the Senate a full and complete report concerning the nature and effect of such transfer. ”

“ If upon the presentation of a certificate for transfer they are at all doubtful of the identity of the party offering it with its owner, or if not satisfied of the genuineness of a power of attorney produced, they can require the identity of the party in the one case, and the genuineness of the document in the other, to be satisfactorily established before allowing the transfer to be made. ”

“ When practical—and it has been found practical in many industries—a transfer office should be maintained in the works. This office should be in charge of a transfer clerk, who will record all transfers of work in progress from one department to another. Theoretically, all work should pass the transfer office. ”

“ Under this definition, any transfer of an interest in property is a transfer, including a transfer of possession, custody, or control even if there is no transfer of title, because possession, custody, and control are interests in property. ”

“ On transferring vessels to foreigners, &c.Sec. 32. And be it further enacted, That if any licensed ship or vessel shall be transferred, in whole or in part, to any person, who is not, at the time of such transfer, a citizen of, and resident within, the United States, or if any such ship or vessel shall be employed in any other trade than that for which she is licensed, or shall be found with a forged or altered license, or one granted for any other ship or vessel, every such ship or vessel, with her tackle, apparel and furniture, and the cargo found on board her, shall be forfeited. ”

“ The term ‘transfer’ means a sale, agreement of sale, agreement to sell, memorandum of sale or delivery of, or transfer, whether made by assignment in blank or by any delivery, or by any paper or agreement or memorandum or any other evidence of transfer or sale ”

“ It seems to us that these authorities are founded in good sense and convenience: until the parties, receiving the consignment or remittance, had done some act recognising the appropriation of it to the particular purposes specified, and the persons claiming had signified their acceptance of it, so as to create a priority between them; the property and proceeds remained at the risk and on the account of the remitter, or owner. ”