Louisiana Code of Civil Procedure 4135 – Security instead of legal mortgage
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Terms Used In Louisiana Code of Civil Procedure 4135
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Instead of the legal mortgage provided in Article 4134, a natural tutor may furnish bond in the amount provided by Article 4131 and of the nature provided by Article 4132, or a special mortgage as provided in Article 4133.
If the court determines that the legal mortgage will not be sufficient protection for the minor, and that substantial loss to the minor may result unless a bond is furnished, the court may order that the natural tutor furnish a bond or a special mortgage instead of the legal mortgage.