Louisiana Civil Code 1526 – Onerous donation
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Terms Used In Louisiana Civil Code 1526
- Donee: The recipient of a gift.
- Donor: The person who makes a gift.
- Inter vivos: Transfer of property from one living person to another living person.
- 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.
The rules peculiar to donations inter vivos do not apply to a donation that is burdened with an obligation imposed on the donee that results in a material advantage to the donor, unless at the time of the donation the cost of performing the obligation is less than two-thirds of the value of the thing donated.
Acts 2008, No. 204, §1, eff. Jan. 1, 2009.