Louisiana Civil Code 3318 – Right of third possessor for costs of improvements
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Civil Code 3318
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
A third possessor may recover the cost of any improvements he has made to the property to the extent the improvements have enhanced the value of the property, out of the proceeds realized from enforcement of the mortgage, after the mortgagee has received the unenhanced value of the property.
Acts 1992, No. 1132, §2, eff. Jan. 1, 1993.
{{NOTE: FORMER ART. 3318 REPEALED BY ACTS 1992, NO. 1132, §1, EFF. JAN. 1, 1993.}}