MISSISSIPPI LEGISLATURE

2000 Regular Session

To: Judiciary A

By: Representative Snowden

AN ACT TO AMEND SECTION 89-1-45, MISSISSIPPI CODE OF 1972, TO CLARIFY THE TERM PURCHASE MONEY MORTGAGE; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 89-1-45, Mississippi Code of 1972, is amended as follows:

89-1-45. 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.

SECTION 2. This act shall take effect and be in force from and after July 1, 2000.