Whitfield v. Harris

Citations

• 48 Miss. 710

Syllabus

<p>1. Vendor and vendee — their respective rights under an escrow. — A vendor of land on a credit, who gives possession at the time of sale, and makes a deed which is delivered to a third party as an escrow, to be held until payment of the purchase money, thereby disposes of his legal title and interest in the land, and reserves only an equity of redemption to be enforced should the vendee fail to pay the purchase money; and the vendee thereby acquires an equitable estate in the land.</p> <p>2. Same — vendor’s creditors charged with notice of vendee’s rights. — In such a case, judgment creditors of vendor are charged with notice of vendee’s equitable estate, and liens of judgments rendered before the delivery of the deed, but subsequent to its delivery as an escrow, will not prevail against such estate.</p> <p>3. Escrow — when it takes effect. — A deed delivered as an escrow does not take effect until a second delivery, as a general rule, but where justice demands, courts of equity will give it relation back, and cause it to take effect from the date of its delivery as an escrow.</p>