Cowan v. . Phillips

Citations

• 28 S.E. 961
• 122 N.C. 70
• 1898 N.C. LEXIS 195

Syllabus

<p>Action lo Set Aside Eraibdulent Conveyance — Rights of Creditors — Mortgagee's-—Personal Property Exemption.</p> <p>1. Where, in an action to set aside a mortgage as fraudulent, it is found that the debts secured by the mortgage were bona fide, but the mortgage was fraudulent as to the plaintiff' creditors, the latter cannot recover from the mortgagee money paid to him before the levy of an attachment by the creditors.</p> <p>2. The personal property exemption of a debtor who makes a fraudulent conveyance is not forfeited thereby.</p> <p>3. In laying off a personal property exemption of a debtor^ the property upon which there is no lien must first bo exempted.</p>