Louisiana Civil Code 1395 – Tacit mortgage abolished.
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Terms Used In Louisiana Civil Code 1395
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The tacit mortgage which resulted from the partition for the execution of all the obligations contained therein, * no longer exists; but the heirs may stipulate a special mortgage.**
* English translation of French text incomplete; should include “or flowing therefrom.”
** Note error in English translation of French text; “a special mortgage” should be “an express mortgage, if they see fit.”