§ 20:1 Declaration of homestead; exemption from seizure and sale; debts excluded from exemption; waiver; certain proceeds from property insurance exempted

Terms Used In Louisiana Revised Statutes > Title 20 > Part I

  • Conviction: A judgement of guilt against a criminal defendant.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives 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.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.