Louisiana Civil Code 3303 – Nature of judicial and legal mortgages
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Terms Used In Louisiana Civil Code 3303
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Judicial and legal mortgages are general mortgages. They are established over property that the obligor owns when the mortgage is created and over future property of the obligor when he acquires it.
Acts 1992, No. 1132, §2, eff. Jan. 1, 1993.