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Definition
| a history of the title to property as revealed by public records. |
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| Clause used in an installment note & mortgage which gives the lender the right to demand payment in full upon the happening of a certain event, such as a failure to pay an installment by a certain date, change of ownership without the lender's consent, destruction of the property, or other even which endangers the security of the loan. |
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| A contract is _____ when it is made to provide security for the performance of an obligation. Ex: Suretyship, mortgage, pledge. La. C.C. art 1913 |
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| Acquiring title to additions or improvements to property as a result of natural growth, labor, the annexation of fixtures or the accretion of alluvial deposits along the banks of streams. |
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| Any act or instrument in writing that was signed in the presence of 2 witnesses, no notary present for original act. Then taken by parties or witnesses to a notary. |
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| A civilian concept reffering to the matrimonial regime of community property; _____=all things acquired, ____= increase in the value of property through the skill or labor of a person, particularly a spouse. C.C. art 2338 |
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| A mode of acquiring ownership of other real rights by uninterrupted possession for a period of time. |
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Definition
| A release from an obligation. (Usually in writing) |
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| Act under private signature |
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Definition
| Any act or instrument, in writing, signed by a person or persons not in the presence of a notary that may or may not be witnessed |
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| A person appointed by the court as the succession representative to manage the assets and liabilities of an intestate decedent. |
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| One who makes an affidavit |
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| A declaration or statement of facts personally known to the affiant reduced in writing and sworn by the affiant before a notary |
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Term
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Definition
| Binding contract to buy and sell in future |
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| An agreement in which the effects thereof depend on an uncertain event. La. CC art. 2982 |
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Term
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Definition
| To transfer property or a right to the ownership of another, especially by an act of the owner rather than by inheritance |
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| An increase to the land caused by the buildup of deposits from running water |
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| A pledge of property "when the security given consists in immovables." Another words, A written contract by which the debtor pledges the revenues of an immovable to the creditor as security for a debt. |
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Term
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| Clause giving full status of a natural or juridical person in any legal instrument |
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Definition
| A person who goes before an official authorized to administer oaths, take acknowledgements, or make authentic acts, and who makes a declaration, executes or acknowledges an instrument in writing |
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| The process of valuing property; a valuation by two or more appraisers who are appointed or authorized by the court to do so |
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Definition
| A right, privilege, or property that is considered incident to the principal property for the purposes such as passage of title, conveyance, or inheritance; a thing that is necessarily connected with the use and enjoyment of another thing. |
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Term
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Definition
| The transfer of a claim, right, interest, or property from one to another; the instrument by which this transfer is effected. |
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Definition
| An act of sale in which the buyer agrees to assume payment of the seller's mortgage |
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Definition
| A disposition of property made by a testator (the person who makes a will) |
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| A guarantee of indemnity by any person, usually an insurance company; or giving security for another |
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Term
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Definition
| A _____ provided by an individual, personally, on behalf of a notary. It must be recorded in the mortgage records in the parish where the notary holds commission. A notary who is bonded with a _____ only needs to provide a new bond if: 1. The surety dies 2.The surety is no longer solvent of $10,000 OR 3. If the surety withdraws his surety ship |
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Term
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Definition
| A contract regarding immovable property whereby the vendor agrees to transfer title to the property when the purchase price is paid in full. The vendee is usually given possession during the existence of the contract. |
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Term
| Cancellation of a Mortgage |
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Definition
| A process where the clerk of court adjust the public records to reflect that the mortgage has been extinguished. |
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Term
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Definition
| Parties, unless emancipated, must be 18 to contract. Witnesses to most instruments must be 14. Witnesses for wills must be 16. |
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Term
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Definition
| Common-law term for an act of sale of immovable property- buyer pays & seller acknowledges receipt of the purchase price. |
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Definition
| Used to designate movable property |
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Term
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Definition
| A collection of laws; LA has many codes |
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Term
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| Common-law term. An amendment, modification, supplement or addition to a will that must be in the form of a testament. CC art. 1610 |
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Term
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Definition
| Property in which a security interest is granted |
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Term
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Definition
| The supposed or real return to the mass of succession property given to forced heirs by donation inter vivos in order to divide the property with the other effects of the succession |
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Definition
| Things that may not be owned by anyone (air, high seas) |
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Term
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Definition
| A matrimonial regime whereby property acquired or produced through the labor of either spouse is owned in common by the husband & wife |
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Term
| Component Parts of tracts of land |
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Definition
| Buildings & other constructions permanently attached to the ground. Ex. unharvested crops or ungathered fruits of trees- belong to the owner of the ground |
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Term
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Definition
| An obligation that is dependent upon the occurrence of an uncertain event |
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Term
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Definition
| A person's agreement in a mortgage to the entry of judgement if he defaults on the obligation secured by the mortgage. |
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Term
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Definition
| When the qualities of obligee and obligor are united in the same person, the obligation is extinguished by ______ |
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Term
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Definition
| The record of all sales and donations of immovable property kept by the clerk of court of each parish. |
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Term
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Definition
| Things that have body, whether animate or inanimate, and can be felt or touched |
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Term
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Definition
| Separate writing expressing the true intent of the parties rather than the intent purported to be manifested in another instrument; not binding on third parties unless recorded. CC art. 2025 |
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Term
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Definition
| Common-law term. An act of sale of immovable property on credit terms. |
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Term
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Definition
| When a vendee purchases immovable property but doesn't assume or agree to pay the indebtedness secured by the mortgage. It means "with burden" |
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Term
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Definition
| A court-appointed guardian who manages the affairs of another incapable of doing so himself |
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Term
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Definition
| An act in which a debtor transfers ownership of a thing to his creditor in payment of a debt; "giving in payment" |
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Term
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| french, "of law." An official who holds his office by law and who is possessed of all lawfully necessary qualifications for office. |
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Definition
| The non-acceptance of an instrument, such as a check or promissory note. |
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Term
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Definition
| A means of depriving a forced heir of his inheritance due to some act upon his part which the law deems sufficient cause. |
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Definition
| The portion of a testator's property which he can will to anyone he chooses |
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Term
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Definition
| A contract in which a donor gratuitously divest himself, at present and irrevocably, of the thing given to the donee, who accepts it. |
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Term
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Definition
| An act to take effect at the death of the donor by which he disposes of the whole or part of his property. It is revocable during the lifetime of the donor. |
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Term
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Definition
| The party on which an order for the payment of money is drawn, usually a bank. |
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Term
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Definition
| One that draws, especially one that draws an order for the payment of money |
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