Louisiana § 19:112 Encumbered property; distribution of price to creditors

Louisiana Statutes

§ 19:112 — Encumbered property; distribution of price to creditors

Louisiana·Title 19 Corporations and Associations

Whenever any property encumbered with mortgages or privileges of any kind is expropriated pursuant to this Part, the property passes to the person expropriating it free and clear of all encumbrances. Any amount awarded pursuant to the provisions of this Part shall be paid into the court by which the expropriation is made and distributed to the mortgage and privileged creditors according to their priority.

Free access — add to your briefcase to read the full text and ask questions with AI

Whenever any property encumbered with mortgages or privileges of any kind is expropriated pursuant to this Part, the property passes to the person expropriating it free and clear of all encumbrances. Any amount awarded pursuant to the provisions of this Part shall be paid into the court by which the expropriation is made and distributed to the mortgage and privileged creditors according to their priority.

Louisiana § 19:112 (Encumbered property; distribution of price to creditors) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.