Terms Used In Louisiana Revised Statutes > Title 14 > Chapter 1 > Part I > Subpart C - Culpability

• Arrest: Taking physical custody of a person by lawful authority.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Decedent: A deceased person.
• Executor: A male person named in a will to carry out the decedent
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Inter vivos: Transfer of property from one living person to another living person.
• Intestate: Dying without leaving a will.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Professional law corporation: means a corporation organized pursuant to this Chapter or the laws of any qualified state for the practice of law. See Louisiana Revised Statutes 12:801
• Purchaser: means a transferee or prospective transferee in any of the types of transactions described in La. See Louisiana Revised Statutes 9:3196
• Qualified person: means :

  (a)  A natural person of full age who is authorized pursuant to the law in this state or any qualified state to render professional legal services. See Louisiana Revised Statutes 12:801

• Residential real property: means real property consisting of one or not more than four residential dwelling units, which are buildings or structures each of which are occupied or intended for occupancy as single family residences. See Louisiana Revised Statutes 9:3196
• Seller: means an owner of residential real property, whether an individual, partnership, corporation, or trust, who sells or attempts to sell residential real property in a manner described in La. See Louisiana Revised Statutes 9:3196
• Testate: To die leaving a will.