Louisiana Civil Code

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CHAPTER 6 - EXTINCTION OF MORTGAGES

Art. 3319. A mortgage is extinguished:

(1) By the extinction or destruction of the thing mortgaged.

(2) By confusion as a result of the obligee's acquiring ownership of the thing mortgaged.

(3) By prescription of all the obligations that the mortgage secures.

(4) By discharge through execution or other judicial proceeding in accordance with the law.

(5) By consent of the mortgagee.

(6) By termination of the mortgage in the manner provided by Paragraph D of Article 3298.

(7) When all the obligations, present and future, for which the mortgage is established have been incurred and extinguished. [Acts 1992, No. 1132, §2, eff. Jan. 1, 1993; Acts 1995, No. 1087, §1]

 

CHAPTER 7 - INSCRIPTION OF MORTGAGES AND PRIVILEGES

Art. 3320. A-B. [Repealed. Acts 2005, No. 169, §8, eff. July 1, 2006]

C. Recordation has only the effect given it by legislation. It is not evidence of the validity of the obligation that the encumbrance secures. It does not give the creditor greater rights against third persons than he has against the person whose property is encumbered. [Acts 1992, No. 1132, §2, eff. Jan. 1, 1993; Acts 2005, No. 169, §8, eff. July 1, 2006; Acts 2005, 1st Ex. Sess., No. 13, §1, eff. Nov. 29, 2005]

Arts. 3321-3324.  [Repealed. Acts 2005, No. 169, §8, eff. July 1, 2006]

Art. 3325. A. Except as provided in Paragraph B of this Article, a note or other written obligation which is secured by an act of mortgage, or an act evidencing a privilege or other encumbrance, need not be paraphed for identification with such mortgage, privilege, or other encumbrance, and need not recite that it is secured by such mortgage, privilege, or other encumbrance.

B. A notary before whom is passed an act of mortgage, or an act evidencing a privilege or other encumbrance that secures a note or other written obligation, shall paraph the obligation for identification with his act if the obligation is presented to him for that purpose. The paraph shall state the date of the act and shall be signed by the notary. The notary shall also mention in his act that he has paraphed the obligation. Failure to do so shall render the paraph ineffective. The paraph is prima facie evidence that the paraphed obligation is the one described in the act. [Acts 1992, No. 1132, §2, eff. Jan. 1, 1993; Acts 1995, No. 1087, §1]

Art. 3326. 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]

Arts. 3327-3336. [Repealed. Acts 2005, No. 169, §8, eff. July 1, 2006]

Art. 3337. The recorder shall cancel a mortgage or privilege from his records in the manner prescribed by law. [Acts 1992, No. 1132, §2, eff. Jan. 1, 1993; Acts 2005, No. 169, §2, eff. July 1, 2006; Acts 2005, 1st Ex. Sess., No. 13, §1, eff. Nov. 29, 2005]

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