Louisiana Civil Code 3286 – Property susceptible of mortgage
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Terms Used In Louisiana Civil Code 3286
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The only things susceptible of mortgage are:
(1) A corporeal immovable with its component parts.
(2) A usufruct of a corporeal immovable.
(3) A servitude of right of use with the rights that the holder of the servitude may have in the buildings and other constructions on the land.
(4) The lessee’s rights in a lease of an immovable with his rights in the buildings and other constructions on the immovable.
(5) Property made susceptible of conventional mortgage by special law.
Acts 1991, No. 652, §1, eff. Jan. 1, 1992; Acts 1992, No. 649, §1, eff. July 1, 1993; Acts 1993, No. 948, §6, eff. June 25, 1993.