Voidability of debtor dispositions: transfers after bankruptcy application are ineffective and confer no rights to recipients. Dispositions of a debtor's assets between filing of a bankruptcy application and the bankruptcy commencement date are void and create no enforceable rights in transferees. Good faith receipt, payment of value, or lack of notice do not validate such transfers. 'Property' is defined broadly to include all debtor assets, except assets held in trust for another.