August Bernheim & Co. v. Beer

Citations

• 56 Miss. 149

Syllabus

<p>1. Frauds. Conveyance to debtor’s wife by third person. Rights of creditors.</p> <p>Where a debtor purchases real property, and procures the title to be conveyed to his wife, in fraud of his creditors, the conveyance, though not within the Statute of Frauds, is void in equity, and the creditors have the right-to subject the property in which the debtor’s money has been thus invested to the payment of their debts; and the same right extends to the proceeds thereof, or to any other property into which such proceeds may be converted.</p> <p>2. Insubaitci!. Money due on policy, not proceeds of pn'operty. Interest of assured.</p> <p>Money due on a policy of insurance procured by a married woman on buildings situated on property the title to which has been conveyed to her in fraud of her husband’s creditors, is not the proceeds of the property, and cannot be subjected by the husband’s creditors to the payment of his debts. She can,' in such circumstances, make a valid contract of insurance, which, being between the insurer and the insured, exclusively for the indemnity of the latter, cannot be defeated by third persons.</p>