Louisiana Code of Civil Procedure 3195 – Contracts between succession representative and succession; exceptions
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Terms Used In Louisiana Code of Civil Procedure 3195
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Legatee: A beneficiary of a decedent
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
The provisions of Article 3194 shall not apply when a testament provides otherwise or to a succession representative who is:
(1) The surviving spouse of the deceased;
(2) A partner of the deceased, with respect to the assets and business of the partnership;
(3) A co-owner with the deceased, with respect to the property owned in common;
(4) An heir or legatee of the deceased; or
(5) A mortgage creditor or holder of a vendor’s privilege, with respect to property subject to the mortgage or privilege.
Amended by Acts 1961, No. 23, §1.