Louisiana Code of Civil Procedure 2375 – Purchaser’s liability; property subject to inferior mortgages
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Terms Used In Louisiana Code of Civil Procedure 2375
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The purchaser is liable for nothing beyond the purchase price. He shall pay the full purchase price to the sheriff, despite the existence of a mortgage, lien, or privilege on the property inferior to that of the seizing creditor.