Louisiana Civil Code 3313 – Transfer does not imply subordination
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Civil Code 3313
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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.
A transferor of part of an obligation secured by a mortgage does not subordinate his rights to those of the transferee with respect to the portion of the mortgaged obligation he retains.
Acts 1992, No. 1132, §2, eff. Jan. 1, 1993.
{{NOTE: FORMER ART. 3313 REPEALED BY ACTS 1992, NO. 1132, §1, EFF. JAN. 1, 1993.}}