Taylor v. Lowenstein. & Bro.

Citations

• 50 Miss. 278

Syllabus

<p>1. Deeds — Unregistered — Notice thereof. — It is well settled law in this state that the occupancy and open possession of land under an un ' registered deed of conveyance or bond for title, or other contract of sale, imparts notice to creditors and subsequent purchasers, and gives them the same protection as though these written memorials of title had been recorded. Title bonds and other written contracts in relation to land should be acknowledged and recorded as deeds.</p> <p>2. Same— Same — Lien thereof. — A prior unrecorded deed is void against a judgment creditor of the grantor, of which he had no notice at the date of his recovery. Subsequently acquired knowledge will not affect the lien which has already attached. A judgment creditor has the right to appropriate the land to satisfy his judgment in preference t,o the right of the grantee of such debtor whose deed is unrecorded, of which the creditor did not have notice at or before the rendition of the judgment.</p> <p>3. Bond for title— Bule when Part of the Purchase Money is paid.— When land is sold and bond given for title, if any portion of the purchase money be paid before judgment, the land is not subject to sale under execution as the property of the vendor. In such cases the title of the vendor is held in trust for the vendee. If the entire purchase money has been paid, then the vendee becomes, in equity, the complete owner of the estate.</p> <p>4. Same — Same — Bights of Judgment Creditor. — A judgment creditor of the vendor, at the date of executing the bond for title, can either sequester the purchase money by summons in garnishment, or he can bring a bill in chancery against the vendor and vendee, and ask that the equity of the vendor upon the land as security for the purchase money be applied to the satisfaction of his judgment.</p> <p>5. Sheriff’s Sale — Title thereof. — A purchase at a sheriff’s sale like every other assignment by act of the law, ODly transfers the interest of the debtor, wha