Terms Used In Louisiana Revised Statutes > Title 14 > Chapter 1 > Part I > Subpart D - Parties

• Arrest: Taking physical custody of a person by lawful authority.
• Mortgagee: The person to whom property is mortgaged and who has loaned 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
• Property disclosure document: means a document in a form prescribed by the Louisiana Real Estate Commission, or a form that contains at least the minimum language prescribed by the commission, which is presented by the seller to the purchaser in the manner set forth in La. See Louisiana Revised Statutes 9:3196
• 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

• Qualified state: means any state other than Louisiana, or territory of the United States or the District of Columbia, which allows qualified persons authorized to render professional legal services in Louisiana and not in such other state, to own shares in a professional law corporation under its laws. See Louisiana Revised Statutes 12:801
• Real estate contract: means any written agreement, entered into prior to the perfection of the contract of sale or contract to lease or otherwise with an option to purchase, which relates to the sale, offer for sale, purchase, offer to purchase, lease with option to purchase, offer to lease with option to purchase, any other option to purchase, or any other offer which includes an option to purchase any residential real property or improvements thereon. See Louisiana Revised Statutes 9:3196
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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