Louisiana Revised Statutes 41:1048 – Sale of timber on levee board lands where title in dispute; disposition of proceeds
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Terms Used In Louisiana Revised Statutes 41:1048
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
Should a levee board advertise and sell timber on any lands, the title to which is in dispute, a provision may be made that the consideration to be paid the levee board by the adjudicatee of the timber sold under the provisions of this Part, shall be deposited in escrow with the levee board, to be held by that board pending the final determination of the validity of the title to the land or until the board and the grantee otherwise agree the payment should be made or released as provided for in the agreement.
Added by Acts 1978, No. 405, §1.