Louisiana Code of Civil Procedure 2378 – Enforcement of mortgage or privilege superior to that of seizing creditor
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Terms Used In Louisiana Code of Civil Procedure 2378
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
When the purchaser fails to pay a security interest or mortgage superior to the security interest, mortgage, lien, or privilege of the seizing creditor, the superior security interest or mortgage may be enforced under any of the applicable provisions of Articles 3721 through 3743, or as otherwise provided under applicable law.
Acts 1989, No. 137, §18, eff. Sept. 1, 1989.