Mississippi Sample Letter for Interpleader Action
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How to fill out Sample Letter For Interpleader Action?
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FAQ
Rule 22 - Interpleader (a) Plaintiff or Defendant. Persons having claims against the plaintiff may be joined as defendants and required to interplead when their claims are such that the plaintiff is or may be exposed to double or multiple liability.
Verb (used without object),in·ter·plead·ed, in·ter·plead·ing. Law. to litigate with each other in order to determine which of two parties is the rightful claimant against a third party. to bring two or more claimants before a court to determine which of them is entitled to a claim that a third party recognizes.
Rule 81 requires use of a special summons which commands that the defendant appear and defend at a specific time and place set by order of the court and informs him or her that no answer is necessary. See MISS. R.
Pros and Cons of Interpleader Actions Court rules on ownership: The process relieves the stakeholder of the burden of deciding which claimant should receive the money or property. Since the law allows the plaintiff to file a claim for attorney and court fees, the stakeholder can also recoup costs caused by the dispute.
In an interpleader action, the escrow company files a lawsuit against the parties claiming an interest in the escrow funds, deposits the escrow funds with the Superior Court and allows the court to determine the rights of the parties to the funds.
Finally an interpleader action may result when Escrow risks liability to each of the parties. This may arise when the parties to escrow are arguing but can't resolve their differences and blame Escrow for not closing. For example, Buyer tells Escrow to cancel, but he only will pay 1/2 of the escrow's fees.
Another example is that an escrow holder in a real estate transaction holds a deposit and the parties are arguing about whether one or the other should receive the deposit back. In such cases, the escrow holder will often file an interpleader action.
By bringing an interpleader action, a stakeholder can have claimants litigate among themselves, determine which claimants have a rightful claim to the property, and avoid multiple liability. For example, A holds one million dollars. B and C each claim to be the sole owner of the money that A possesses.