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Terms Used In Louisiana Code of Civil Procedure 2295

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

If several items of property have been seized, or if one item of property which is divisible into portions has been seized, the judgment debtor, at any time prior to the first advertisement, may designate the order in which the items or portions of property will be sold, except that the judgment creditor can direct the sale of property on which he has a mortgage, or a privilege other than that resulting from the seizure.

If the judgment debtor does not designate the order of sale, the order of sale shall be at the discretion of the sheriff.

When property is offered by items or portions and the total price bid is insufficient to satisfy the judgment, with interest and costs, or if the judgment debtor so requests, the property shall be offered in globo and thus sold if a higher bid is obtained.