Terms Used In Louisiana Revised Statutes > Title 6 > Chapter 7-A > Part III - Acquisition and Ownership of Trust Company Facilities and Other Real Estate

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Governmental lien: means all liens imposed by law upon immovable property in favor of any political subdivision and filed in the mortgage records, including without limitation, those imposed under Louisiana Revised Statutes 47:2122
• immovable property: means and includes not only land, city, town and village lots, but all things thereunto pertaining, and all structures and other appurtenances thereto, as pass to the vendee by the conveyance of the land or lot. See Louisiana Revised Statutes 47:1702
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Legatee: A beneficiary of a decedent
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Owner: means a person who holds an ownership interest that has not been terminated pursuant to Louisiana Revised Statutes 47:2122
• Personal property: All property that is not real property.
• Political subdivision: means any of the following to the extent it has the power to levy ad valorem taxes and conduct tax sales for failure to pay ad valorem taxes:

  (a)  The state. See Louisiana Revised Statutes 47:2122

• Property: includes every form, character and kind of property, real, personal, and mixed, tangible and intangible, corporeal and incorporeal, and every share, right, title or interest therein or thereto, and every right, privilege, franchise, patent, copyright, trade-mark, certificate, or other evidence of ownership or interest; bonds, notes, judgments, credits, accounts, or other evidence of indebtedness, and every other thing of value, in possession, on hand, or under the control, at any time during the calendar year for which taxes are levied, within the State of Louisiana, of any person, firm, partnership, association of persons, or corporation, foreign or domestic whether the same be held, possessed, or controlled, as owner, agent, pledgee, mortgagee, or legal representative, or as president, cashier, treasurer, liquidator, assignee, master, superintendent, manager, sequestrator, receiver, trustee, stakeholder, depository, warehouseman, keeper, curator, executor, administrator, legatee, heir, beneficiary, parent, attorney, usufructuary, mandatary, fiduciary, or other capacity, whether the owner be known or unknown; except in the cases of fire, life, or other insurance companies, the notes, judgments, accounts, and credits of nonresident persons, firms, corporations, partnerships, associations, or companies doing business in the State of Louisiana, originating from the business done in this state, are hereby declared to be property with its situs within this state. See Louisiana Revised Statutes 47:1702
• Redemptive period: means the period in which a person may redeem property as provided in thethe Louisiana Constitution. See Louisiana Revised Statutes 47:2122
• Send: means either of the following:

  (a)  To deposit in the mail or deliver for transmission by any other commercially reasonable means of communication with postage or cost of transmission provided for, and properly addressed to any address reasonable under the circumstances. See Louisiana Revised Statutes 47:2122

• Signed: includes using any symbol executed or adopted with present intention to adopt or accept a writing in tangible form. See Louisiana Revised Statutes 47:2122
• Tax debtor: means , as of the date of determination, the person listed on the tax roll in accordance with Louisiana Revised Statutes 47:2122
• Tax notice party: means , as of the date of determination, the tax debtor and any person requesting notice pursuant to Louisiana Revised Statutes 47:2122
• Tax sale: means the sale or adjudication of tax sale title to property pursuant to Louisiana Revised Statutes 47:2122
• Tax sale certificate: means the written notice evidencing a tax sale to be filed in accordance with Louisiana Revised Statutes 47:2122
• Tax sale party: means the tax notice party, the owner of property, including the owner of record at the time of a tax sale, as shown in the conveyance records of the appropriate parish, and any other person holding an interest, such as a mortgage, privilege, or other encumbrance on the property, including a tax sale purchaser, as shown in the mortgage and conveyance records of the appropriate parish. See Louisiana Revised Statutes 47:2122
• Tax sale purchaser: means the purchaser of tax sale property, his successors, and assigns. See Louisiana Revised Statutes 47:2122
• Tax sale title: means the set of rights acquired by a tax sale purchaser or, in the case of adjudicated property, on the applicable political subdivision, pursuant to this Chapter. See Louisiana Revised Statutes 47:2122
• Trust business: means the holding out by a person to the public by advertising, solicitation, or other means that the person is available to perform any service of a fiduciary in this state or another state. See Louisiana Revised Statutes 6:572
• Trust company: means a corporation or a limited liability trust company organized under this Chapter, including a trust company organized under the laws of this state before June 27, 2003, or an entity chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Louisiana Revised Statutes 6:572
• writing: means information that is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 47:2122