State National Bank of Louisiana v. Lyons

Citations

• 52 Miss. 181

Syllabus

<p>1. Homestead : Act of April 18, 1873, construed. Case in judgment.</p> <p>L., being indebted to P., executed a deed in trust to secure the same, embracing his residence in Canton, which was worth $10,000. The wife of L. did not • join in the deed. The deed was executed in August, 1873. The bank, assignee of the note, filed a bill to determine its rights as creditor, and also the extent of the homestead exemption under the act of April 18, 1873. Held, that, as the wife did not join the husband in the deed in trust, it was ; inoperative and void to the extent of $2,000 — the homestead exemption under the act of April 18, 1873 — -but that the conveyance incumbered the property as to the excess over $2,000 in value, and that it was legitimate and proper for the chancery court to ascertain and separate the exemption, as provided in l 2137 of the Code of 1871.</p>