Louisiana Revised Statutes 9:2120 – Mortgage or pledge; borrowing
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Terms Used In Louisiana Revised Statutes 9:2120
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Trustee: A person or institution holding and administering property in trust.
A trustee may mortgage or pledge trust property, or borrow money on the credit of the trust estate and charge the trust estate therefor, unless the trust instrument provides otherwise.