Louisiana Revised Statutes 9:1112 – Immovable property held in common; agreement not to alienate, encumber or lease
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Terms Used In Louisiana Revised Statutes 9:1112
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Persons holding immovable property in common may agree not to alienate, encumber, or lease the property held in common for a specific period of time, not to exceed fifteen years. This agreement must be in writing.
Acts 1987, No. 476, §1.