Richardson v. AMRESCO Residential Mortgage Corp.

In this appeal, we consider whether the chancellor erred in ruling that certain mortgagees were entitled to protections afforded third parties under the Uniform Transfers to Minors Act, as codified in Kentucky and Virginia (the Act). Kentucky Rev. Stat. Ann. §§ 385.012 through 385.252 and Virginia Code §§ 31-37 through -59. This issue arose from the mortgagees’ asserted right to enforce liens secured by real property that a custodian had transferred from a custodial estate to herself by a quitclaim deed. We also consider whether the chancellor erred in holding that the quitclaim deed was…