Mississippi § 85-1-3 - Schedules of liabilities and assets to be filed.
Full text of Mississippi Mississippi Code of 1972 Annotated § 85-1-3 — Schedules of liabilities and assets to be filed., with citation guidance and answers to common questions.
§ 85-1-3. Schedules of liabilities and assets to be filed.
With every general assignment there shall be filed, unless the data all appear on its face, at least two (2) schedules. One of them, a schedule of liabilities, must set forth, so far as known to the assignor: The name of each of his creditors; The post-office address of each of them; The sum due each; How each debt is evidenced; The amount of interest each debt bears, and if in any way the debt is usurious, the facts must be stated; The consideration for each debt; and in case of renewals the history of the transaction must be traced to the original consideration; and What security, if any, each creditor has. The other, a schedule of assets, must describe the property conveyed, and give its location and value. Both schedules-and if the data be in the face of the deed, then the assignment-must be under the oath of the assignor avowing the truthfulness of the matters of fact stated. A general assignment which does not comply with this section shall be void as to all preferences contained in it.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 85-1-3
What does Mississippi Code of 1972 Annotated § 85-1-3 cover?
Section 85-1-3 ("Schedules of liabilities and assets to be filed.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 85-1-3?
A common citation format is "Mississippi Code of 1972 Annotated § 85-1-3" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 85-1-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.