Louisiana Revised Statutes 13:3865 – Same; notice of seizure; lien or preference; dismissal, sale or compromise
Terms Used In Louisiana Revised Statutes 13:3865
- Lien: A claim against real or personal property in satisfaction of a debt.
The seizing creditor shall have a notice of seizure served upon the parties to the suit, and the effect thereof shall be to give such seizing creditor a lien or preference on whatever is realized by his debtor out of the suit. After such notice of seizure the litigants cannot dismiss the suit or make any valid sale, compromise or adjustment of the suit to the prejudice of the seizing creditor or without his consent unless the amount to be received by the debtor in the compromise is sufficient to satisfy the seizing creditor’s claim, in which event, the litigant offering the compromise must first satisfy the seizing creditor and obtain from him a release of the seizure under penalty of being liable to the creditor for the amount of his claim.