Louisiana Civil Code 2788 – Annuity charge; recordation
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Terms Used In Louisiana Civil Code 2788
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
An annuity charge on an immovable is without effect as to third persons unless the annuity contract establishing it is recorded in the conveyance records of the parish in which the immovable is located.
Acts 2012, No. 258, §1, eff. Jan. 1, 2013.