Louisiana Statutes
§ 9:5384 — Assumption of a mortgage on immovable property by a third person
Louisiana·Title 9 Civil Code-Ancillaries
An original vendor's privilege or first mortgage, or both, is not extinguished nor is its ranking subordinated to any other mortgage, lien, privilege, or encumbrance when the obligation it secures is assumed by a new obligor, notwithstanding the release of the original obligor.
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Louisiana § 9:5384 (Assumption of a mortgage on immovable property by a third person) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Acts 1980, No. 585, §1.
Nearby Sections
15
§ 9:5301
§ 9:5301§ 9:5305
Paraph unnecessary; proviso§ 9:5321
§ 9:5321§ 9:5324
Schedule of penalties§ 9:5325
Exclusions§ 9:5351
§ 9:5351