Terms Used In Louisiana Codes > Civil Code > PRELIMINARY TITLE > Title XXII > Chapter 2 - Conventional Mortgages

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Birth certificate: means official documentation of the child's record of birth acceptable to the United States Citizenship and Immigration Services and, if the document is not in English, a certified translation of the document. See Louisiana Children's Code 1281.3
• Child: means a person under eighteen years of age and not emancipated by marriage. See Louisiana Children's Code 1169
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Louisiana Department of Children and Family Services. See Louisiana Children's Code 1169
• Department: means the Louisiana Department of Children and Family Services. See Louisiana Children's Code 1281.3
• Foreign orphan: means a child living in a Non-Hague Convention country (a) who is under the age of sixteen at the time a Form I-600, Petition to Classify Orphan as an Immediate Relative, is filed on his behalf and who is found by the Department of State or United States Citizenship and Immigration Services to meet the definition of "orphan" under Section 101(b)(1)(F) of the Immigration and Nationality Act (8 USC 1101(b)(1)(F)); or (b) who is under the age of eighteen and is a biological sibling of a child previously adopted by the same applicant(s) who is petitioning on his behalf. See Louisiana Children's Code 1281.3
• Inter vivos: Transfer of property from one living person to another living person.
• 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.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• 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.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}