Louisiana Revised Statutes 42:202 – Mode of transfer
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Terms Used In Louisiana Revised Statutes 42:202
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The application for the transfer of a special mortgage to other property must be made by petition to the governor, who shall appoint two competent persons to evaluate the property offered as a substitute; and if a sworn appraisement of the property shows that its value is sufficient to answer for the sum required, then after accepting the new mortgage, the governor shall have it recorded in the manner directed by law, and authorize the cancellation of all anterior special mortgages, so far as the state may be interested.