Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE XXII > Chapter 1 - Mortgages in General

• Adjusted gross income: means gross income, minus:

              (a) Amounts for preexisting child support or spousal support obligations owed under an order of support to another who is not a party to the proceedings and

              (b) At the court's discretion, amounts paid on behalf of a party's minor child who is not the subject of the action of the court. See Louisiana Revised Statutes 9:315

• Adult: means an individual who has attained the age of eighteen years. See Louisiana Revised Statutes 9:2260.1
• Adult: means an individual who has attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• 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.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arrest: Taking physical custody of a person by lawful authority.
• Articles: means the original articles of incorporation and all amendments thereto including those contained in merger agreements or, if restated, the latest restatement thereof except in those instances in which the context refers expressly to the original articles of incorporation only. See Louisiana Revised Statutes 6:201
• Assets: means all of a state bank's property and rights of every kind. See Louisiana Revised Statutes 6:201
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beneficiary: means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual's use and benefit under this Chapter. See Louisiana Revised Statutes 9:2260.1
• Board: means the Board of Trustees of the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• Board: means any agency, board, commission, or office, public or private, that issues any license for activity specified in Paragraph (6) of this Section. See Louisiana Revised Statutes 9:315.31
• Broker: means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others. See Louisiana Revised Statutes 9:751
• Capital: means the sum of capital stock, surplus, and undivided profits or, as to mutual state banks, as defined by Louisiana Revised Statutes 6:201
• Capital stock: means the sum of the par value of the shares outstanding plus any amounts in excess of par value transferred from surplus to capital stock in respect of such shares less any part of such amounts transferred from capital stock to surplus as permitted by this Chapter. See Louisiana Revised Statutes 6:201
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Combined adjusted gross income: means the combined adjusted gross income of both parties. See Louisiana Revised Statutes 9:315
• Contempt of court: means that a person has been found guilty of a direct contempt of court for a contumacious failure to comply with a subpoena, pursuant to Code of Civil Procedure Article 222(5), or a constructive contempt of court for willful disobedience of a lawful order of the court, pursuant to Code of Civil Procedure Article 224(2), in or ancillary to a child support or paternity proceeding. See Louisiana Revised Statutes 9:315.31
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Court: means a court of competent jurisdiction. See Louisiana Revised Statutes 9:2260.1
• Court: means any court exercising jurisdiction over the determination of child support, paternity, or criminal neglect of family proceedings. See Louisiana Revised Statutes 9:315.31
• Curator: means a person appointed or qualified by a court to manage the estate of an individual or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:2260.1
• Custodial property: means any interest in property transferred to a custodian under this Subpart and the income from and proceeds of that interest in property. See Louisiana Revised Statutes 9:751
• Custodial trust property: means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this Chapter and the income from and proceeds of that interest. See Louisiana Revised Statutes 9:2260.1
• Custodial trustee: means a person designated as trustee of a custodial trust under this Chapter or a substitute or successor to the person designated. See Louisiana Revised Statutes 9:2260.1
• Custodian: means a person so designated under Louisiana Revised Statutes 9:751
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Department of Children and Family Services when rendering child support enforcement services in  TANF or non-TANF cases. See Louisiana Revised Statutes 9:315.31
• Dependent: A person dependent for support upon another.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Donee: The recipient of a gift.
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Employee: means any person legally occupying a position in the state service. See Louisiana Revised Statutes 11:403
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: means any person, firm, partnership, association, or state bank, including a usufructuary, who or which occupies a position of peculiar confidence toward any person, firm, association, partnership, trust, or estate. See Louisiana Revised Statutes 6:201
• Financial institution: means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law. See Louisiana Revised Statutes 9:751
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• foreign trust: shall mean any of the following:

  (1)  A trust which by the terms of the trust instrument is governed by the law of a jurisdiction other than Louisiana. See Louisiana Revised Statutes 9:2262.1

• Fraud: Intentional deception resulting in injury to another.
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Incapacitated: means lacking the ability to manage property and business affairs effectively by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority, or other disabling cause. See Louisiana Revised Statutes 9:2260.1
• Income: means :

              (a) Actual gross income of a party, if the party is employed to full capacity; or

              (b) Potential income of a party, if the party is voluntarily unemployed or underemployed. See Louisiana Revised Statutes 9:315

• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Inter vivos: Transfer of property from one living person to another living person.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Intestate: Dying without leaving a will.
• 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}
• Legal representative: means a personal representative, tutor, or curator. See Louisiana Revised Statutes 9:2260.1
• Legatee: A beneficiary of a decedent
• License: means any license, certification, registration, permit, approval, or other similar document evidencing admission to or granting authority for any of the following:

  (a)  To engage in a profession, occupation, business, or industry. See Louisiana Revised Statutes 9:315.31

• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Member: means any person included in the membership of the system. See Louisiana Revised Statutes 11:403
• Minor: means an individual who has not attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• 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.
• Obligor: means any individual legally obligated to support a child or children pursuant to an order of support. See Louisiana Revised Statutes 9:315.31
• Order of support: means any judgment or order for the support of dependent children issued by any court of this state or another state, including any judgment or order issued in accordance with an administrative procedure established by state law that affords substantial due process and is subject to judicial review. See Louisiana Revised Statutes 9:315.31
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• past due child support: means the amount of a delinquency determined under a court order under state law for support and maintenance of a child. See Louisiana Revised Statutes 9:315.26
• Person: means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity. See Louisiana Revised Statutes 9:2260.1
• Person: means an individual, corporation, organization, or other legal entity. See Louisiana Revised Statutes 9:751
• Personal property: All property that is not real property.
• Personal representative: means an executor, administrator, or representative of a decedent's estate, a person legally authorized to perform substantially the same functions, or a successor to any of them. See Louisiana Revised Statutes 9:2260.1
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Principal residence of a child: means :

  (a)  The location designated by a court to be the primary residence of the child. See Louisiana Revised Statutes 9:355.1

• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Refund: means the withdrawal of all accumulated contributions at least thirty days after termination from the state service, or with respect to members having the option of belonging to the system, withdrawal of all accumulated contributions at least thirty days after receipt by the system of written notice of withdrawal. See Louisiana Revised Statutes 11:403
• Relocation: means a change in the principal residence of a child for a period of sixty days or more, but does not include a temporary absence from the principal residence. See Louisiana Revised Statutes 9:355.1
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Retirement: means termination of active service, with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:403
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Shares: means the units into which the stockholders' rights to participate in the control of the state bank, in its profits, or in the distribution of corporate assets are divided. See Louisiana Revised Statutes 6:201
• Spouse: means a person who is legally married to a member of this system. See Louisiana Revised Statutes 11:403
• State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Louisiana Revised Statutes 9:2260.1
• State: means the state of Louisiana. See Louisiana Revised Statutes 11:403
• State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Louisiana Revised Statutes 9:751
• Statute: A law passed by a legislature.
• Stockholder: means the holder of record of one or more shares. See Louisiana Revised Statutes 6:201
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Surplus: means sums contributed by stockholders in excess of the par value of shares outstanding plus any amounts transferred from undivided profits pursuant to action by the board of directors. See Louisiana Revised Statutes 6:201
• System: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• Termination: means complete cessation of employment with the state. See Louisiana Revised Statutes 11:403
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Total voting power: means the entirety of the voting power. See Louisiana Revised Statutes 6:201
• Transfer: means a transaction that creates custodial property under Louisiana Revised Statutes 9:751
• Transferor: means a person who creates a custodial trust by transfer or declaration. See Louisiana Revised Statutes 9:2260.1
• Transferor: means a person who makes a transfer under this Subpart. See Louisiana Revised Statutes 9:751
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trust company: means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. See Louisiana Revised Statutes 9:2260.1
• Trust company: means a financial institution, corporation, or other legal entity authorized to exercise general trust powers. See Louisiana Revised Statutes 9:751
• Trustee: A person or institution holding and administering property in trust.
• Tutor: means a person appointed or qualified by a court to act as guardian of a minor's property or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:2260.1
• Tutor: means a person appointed or qualified by a court to act as guardian of a minor's property or a person legally authorized to perform substantially the same functions, including but not limited to a curator. See Louisiana Revised Statutes 9:751
• Venue: The geographical location in which a case is tried.
• Voting power: means the right vested by law or by the articles or the bylaws in the stockholder or in one or more classes of stockholder to vote in the determination of any particular question or matter coming before meetings of the stockholders. See Louisiana Revised Statutes 6:201
• Voting power present: means that part of the voting power exercisable by the stockholders present in person or represented by proxy at the meeting at which the stockholders take action on a particular question or matter. See Louisiana Revised Statutes 6:201
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.