Louisiana Revised Statutes 13:4436.3 – Termination of mortgages resulting from judgments of appellate courts
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Terms Used In Louisiana Revised Statutes 13:4436.3
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The court hearing the rule shall order the mortgage terminated and direct the recorder to erase the judgment from his records, if it finds that the appellate judgment was not executory when the proceedings for termination were filed, that the debtor has filed a bond guaranteeing payment of the judgment with the clerk in proper form and amount, and that the surety on the bond is qualified to act as surety.
Acts 1992, No. 1132, §5, eff. Jan. 1, 1993.