Louisiana Revised Statutes 9:5303 – Creditors’ interests under mortgage
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Terms Used In Louisiana Revised Statutes 9:5303
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The interest of the holders of the obligations shall be in common and indivisible, and in case of the enforcement of the mortgage, the holders shall be entitled to participate pro rata in the proceeds of the mortgaged property.