Legal Question in Real Estate Law in Mississippi

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After sending the previous response I found that Section 15-3-3 has been repealed and replaced by the "Uniform Fraudulent Transfer Act" which is more specific and favorable to creditors.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