Legal Question in Real Estate Law in Mississippi
quitclaimdeed
my mother is on the mortgage with my husband and I. We have filed a quit claim deed at the courthouse. Now my mom is terminal with cancer and my question is, will we be held responsible for her dept , ie. credit cards, ect. and can any of her creditors put a lean against our home after she is deceased?
2 Answers from Attorneys
Re: quitclaimdeed
By statute, conveyances of land made to defraud creditors may be declared void. Miss.Code Ann. � 15-3-3 (Rev.1995). Two exceptions are conveyances that are made "upon good consideration" and conveyances, although fraudulent, which are made prior to the incurring of a debt with a creditor. Miss.Code Ann. � 15-3-5 (Rev.1995). However, a conveyance, although fraudulent, and made prior to debts being incurred with subsequent creditors may be set aside if the conveyance was "with intent to defraud" those subsequent creditors.
Re: quitclaimdeed
After sending the previous response I found that Section 15-3-3 has been repealed and replaced by the "Uniform Fraudulent Transfer Act" which is more specific and favorable to creditors. Sections 15-3-101 et seq. of the Mississippi Code Annotated. which can be viewed at the Mississippi Secretary of State's website