Louisiana Civil Code 3326 – Effect of mortgage filed after death of mortgagor
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Terms Used In Louisiana Civil Code 3326
- 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.
A judgment or a conventional mortgage filed for recordation more than twenty days after the mortgagor dies gives no preference to the mortgagee over the other creditors of the estate of the deceased if the estate is insufficient to satisfy all the creditors.
Acts 1992, No. 1132, §2, eff. Jan. 1, 1993.
{{NOTE: FORMER ART. 3326 REPEALED BY ACTS 1992, NO. 1132, §1, EFF. JAN. 1, 1993.}}