Terms Used In Louisiana Code of Civil Procedure 4501
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A. Except as otherwise provided by law, during marriage, the parents shall seek court approval to alienate, encumber, or lease the property of the minor, incur an obligation of the minor, or compromise a claim of the minor, in the same manner and using the same procedure as a tutor. The parents shall petition jointly, unless one parent is mentally incompetent, interdicted, or imprisoned, or is an absent person, in which case the other parent shall petition alone. One parent may also petition alone, with permission of the court, if the other parent fails or refuses to do so.
B. An ascendant having parental authority shall be considered a parent for the purposes of this Article.
Acts 2003, No. 467, §1; Acts 2015, No. 260, §2, eff. Jan. 1, 2016.