Louisiana Civil Code 3292 – Mortgage of future property permitted in certain cases
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Terms Used In Louisiana Civil Code 3292
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
A special mortgage given over property the mortgagor does not own is established when the property is acquired by the mortgagor. A general conventional mortgage is permitted only when expressly provided by law.
Acts 1991, No. 652, §1, eff. Jan. 1, 1992.