Louisiana Revised Statutes 9:5301 – Conventional mortgage to secure several obligations
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Terms Used In Louisiana Revised Statutes 9:5301
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A conventional mortgage may be given to secure the payment of the principal and interest of two or more notes, bonds, or other obligations of the mortgagor or of any third person.