Louisiana Civil Code 2568 – Limitation on duration
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Terms Used In Louisiana Civil Code 2568
- Contract: A legal written agreement that becomes binding when signed.
The right of redemption may not be reserved for more than ten years when the thing sold is immovable, or more than five years when the thing sold is movable. If a longer time for redemption has been stipulated in the contract that time must be reduced to either ten or five years, depending on the nature of the thing sold.
Acts 1993, No. 841, §1, eff. Jan. 1, 1995.