Louisiana Revised Statutes 9:3371 – Validity of sale/lease-back commercial transactions
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Terms Used In Louisiana Revised Statutes 9:3371
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Sale/lease-back commercial transactions involving immovable or movable property with a fair market value in excess of twenty-five thousand dollars and located within this state are hereby declared to be valid and enforceable. Such transaction shall produce and result in the legal consequences described in the written sale/lease-back agreement between the parties and shall not be presumed to be a simulation.
Acts 2001, No. 866, §1.