Every mortgage given at the time of the purchase of real estate to secure the payment of the purchase money, whether such mortgage be given to the seller or to a third-party lender, shall be entitled to a preference over all judgments and other debts of the mortgagor, which preference shall extend only to the land purchased.
Miss. Code Ann. § 89-1-45
Mortgage for purchase money of land
Applied in 1 court decision — leading case Burks v. BAC Home Loans Servicing, LP (In Re Burks) (2009)
Most recently applied in Burks v. BAC Home Loans Servicing, LP (In Re Burks) (December 2009)
Codes, 1857, ch. 36, art. 13; 1871, § 2296; 1880, § 1205; 1892, § 2450; 1906, § 2780; Hemingway’s 1917, § 2284; 1930, § 2129; 1942, § 850; Laws, 2000, ch. 341, § 1, eff from and…
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.