We report results of a sensitive search for cold dust and molecular gas in the disks around 8 T Tauri stars in the high-latitude cloud MBM 12 . Interferometric observations of 3 mm continuum emission in 5 fields containing 6 of the objects , and literature values for the remaining two , limit the disk masses to M _ { disk } < 0.04 –0.09 M _ { \odot } ( gas+dust ) , for a gas : dust mass ratio of 100 and a distance of 275 pc . By coadding the 3 mm data of our five fields , we set an upper limit to the average disk mass of \bar { M } _ { disk } ( N = 5 ) < 0.03 M _ { \odot } . Simultaneous observation of the CS J =2–1 and the N _ { 2 } H ^ { + } 1–0 lines show no emission . Single-dish observations of the ^ { 13 } CO 2–1 line limit the disk mass to ( 5–10 ) \times 10 ^ { -4 } M _ { \odot } for a standard CO abundance of 2 \times 10 ^ { -4 } . Depletion of CO by up to two orders of magnitude , through freezing out or photodissociation , can reconcile these limits . These mass limits lie within the range found in the Taurus-Auriga and \rho Oph star-forming regions ( 0.001–0.3 M _ { \odot } ) , and preclude conclusions about possible decrease in disk mass over the 1–2 Myr age range spanned by the latter two regions and MBM 12 . Our observations can exclude the presence in MBM 12 of T Tauri stars with relatively bright and massive disks such as T Tau , DG Tau , and GG Tau .