Louisiana Civil Code 3284 – Conventional, legal, and judicial mortgages
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Terms Used In Louisiana Civil Code 3284
- Contract: A legal written agreement that becomes binding when signed.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
A conventional mortgage is established by contract.
A legal mortgage is established by operation of law.
A judicial mortgage is established by law to secure a judgment.
Acts 1991, No. 652, §1, eff. Jan. 1, 1992.