Louisiana Revised Statutes 9:5392 – Continuation of mortgage after judgment
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Terms Used In Louisiana Revised Statutes 9:5392
- 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.
- 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.
A mortgage shall continue when the mortgagee has reduced to judgment any obligation thereby secured, and shall secure such judgment without interruption, whether it expressly recognizes the mortgage, except to the extent that the judgment expressly provides to the contrary.
Acts 1991, No. 377, §3, eff. Jan. 1, 1992.