McCormick v. Atkinson

Citations

• 78 Va. 8
• 1883 Va. LEXIS 2

Syllabus

<p>1. Fraudulent Conveyances—Inconsistent reservations.—It is well settled that a conveyance professedly to indemnify creditors, but expressly or impliedly reserving to the grantor powers inconsistent with and adequate to defeat such purpose, is void as to creditors and purchasers.</p> <p>2. Idem—Idem—Registry of such conveyance.—Where conveyance is made of stock and fixtures of a store, in trust to secure debt payable in futuro, without right to trustee to possess or control the property, except in event of default of payment, then, on request of c. q. t., trustee to sell the same, such conveyance impliedly reserves to grantor the power to possess and sell the property; and if he sells, then, as to the purchaser, and creditors of that purchaser, that conveyance is void, although it may have been recorded, its recordation being only notice of a void thing.</p> <p>3. Priorities.'—As between an unrecorded deed of trust, and a subsequent but recorded conveyance of the equity of redemption without notice of the former deed, the latter hath priority.</p>