Louisiana Civil Code 3356 – Transfers, amendments, and releases
Terms Used In Louisiana Civil Code 3356
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A. A transferee of an obligation secured by a mortgage, pledge, or privilege is not bound by any unrecorded act releasing, amending, or otherwise modifying the mortgage, pledge, or privilege if he is a third person with respect to that unrecorded act.
B. A recorded transfer, modification, amendment, or release of a mortgage, pledge, or privilege made by the obligee of record is effective as to a third person notwithstanding that the obligation secured by the mortgage, pledge, or privilege has been transferred to another.
C. For the purpose of this Chapter, the obligee of record of a mortgage, pledge, or privilege is the person identified by the mortgage records as the obligee of the secured obligation.
Acts 2005, No. 169, §1, eff. Jan. 1, 2006; Acts 2005, 1st Ex. Sess., No. 13, §1, eff. Nov. 29, 2005; Acts 2014, No. 281, §1, eff. Jan. 1, 2015.
NOTE: Acts 2005, 1st Ex. Sess., No. 13, §1, changed the effective date of Acts 2005, No. 169, to July 1, 2006.