Louisiana Revised Statutes 31:120 – Lessor’s warranty and limitation of liability for breach thereof
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Terms Used In Louisiana Revised Statutes 31:120
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
A mineral lessor impliedly warrants title to the interest leased unless such warranty is expressly excluded or limited. The liability of the lessor for breach of warranty is limited to recovery of money paid or other property or its value given to the lessor for execution or maintenance of the lease and any royalties delivered on production from the lease.
Acts 1974, No. 50, §120, eff. Jan. 1, 1975.