Terms Used In Louisiana Code of Civil Procedure 4267

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

When it appears to the best interest of the minor, and after compliance with Article 4271, the court may authorize a tutor to borrow money for the purpose of preserving or administering the property, of paying debts, for expenditures in the regular course of a business conducted in accordance with Article 4266, or for the care, maintenance, training, or education of the minor.  As security for such a loan, the court may authorize the tutor to mortgage or pledge property of the minor upon such terms and conditions as it may direct.  Before authorizing a loan, the court may require the tutor to furnish additional security in an amount fixed by the court.