Louisiana Civil Code 3170 – Pledgee’s right to enforce payment of credit pledged; imputation of proceeds
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Terms Used In Louisiana Civil Code 3170
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
A pledge of the lessor’s rights in the lease of an immovable and its rents may be established in an act of mortgage of the immovable. In that event, the pledge is given the effect of recordation for so long as the mortgage is given that effect and is extinguished when the mortgage is extinguished.
Acts 2014, No. 281, §1, eff. Jan. 1, 2015.