Louisiana Civil Code 815 – Partition by licitation
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Terms Used In Louisiana Civil Code 815
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
When a thing is partitioned by licitation, a mortgage, lien, or privilege that burdens the share of a co-owner attaches to his share of the proceeds of the sale.
Acts 1990, No. 990, §1, eff. Jan. 1, 1991.