Louisiana Civil Code 3293 – Obligations for which mortgage may be established
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Terms Used In Louisiana Civil Code 3293
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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 conventional mortgage may be established to secure performance of any lawful obligation, even one for the performance of an act. The obligation may have a term and be subject to a condition.
Acts 1991, No. 652, §1, eff. Jan. 1, 1992.