Louisiana Code of Civil Procedure 2377 – Inferior mortgages; payment; reference to proceeds
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Terms Used In Louisiana Code of Civil Procedure 2377
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
The sheriff shall pay the inferior security interests, mortgages, liens, and privileges, after payment of the costs and the amount due the seizing creditor. When the sum remaining after payment of the costs and the amount due the seizing creditor is insufficient to pay such inferior claims in full, the sheriff may deposit the remainder with the court and proceed by contradictory motion against the inferior creditors to have their claims referred to the proceeds of the sale.
Acts 1989, No. 137, §18, eff. Sept. 1, 1989.