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La. Rev. Stat. § 9:5304 Enforcement of mortgage; limitations
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§5304. Enforcement of mortgage; limitations In case of default, the mortgage may be enforced by seizure and sale or otherwise, as the fiduciary shall deem expedient for the protection of the debt. However, the act of mortgage may provide that in the event of default, the fiduciar…
La. Rev. Stat. § 9:5305 Paraph unnecessary; proviso
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§5305. Paraph unnecessary; proviso The notes, bonds, or other obligations secured by the mortgage need not be paraphed if the act of mortgage identifies them by date, number, amount, and date when payable.
La. Rev. Stat. § 9:5306 Act of mortgage may include pledge
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§5306. Act of mortgage may include pledge The act of mortgage may include a pledge of incorporeal movables and may provide for the deposit thereof with the fiduciary.
La. Rev. Stat. § 9:5307 Substitutions, fidei commissa, or trust dispositions; laws not applicable
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§5307. Substitutions, fidei commissa, or trust dispositions; laws not applicable The laws relative to substitutions, fidei commissa, or trust dispositions shall not apply to or in any manner affect conventional mortgages executed in conformity with the provisions of this Part, an…
La. Rev. Stat. § 9:5321 Definitions
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§5321. Definitions As used in this Part: (1) "Instrument" means any instrument, whether or not negotiable, which evidences the indebtedness of one or more persons. (2) "Rural Property" means a tract of land which is at least forty acres in area and from which at least seventy-fiv…
La. Rev. Stat. § 9:5324 Schedule of penalties
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§5324. Schedule of penalties No penalty for the prepayment of any indebtedness evidenced by an instrument which is secured by a mortgage on rural property may exceed: (1) five percent of the unpaid principal balance if prepaid during the first year from the date of the instrument…
La. Rev. Stat. § 9:5325 Exclusions
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§5325. Exclusions The provisions of this Part shall not apply to any instrument which is secured by a conventional mortgage on rural property if that instrument provides that it is a consumer credit transaction within the provisions of the Louisiana Consumer Credit Law, R.S. 9:35…
La. Rev. Stat. § 9:5363.1 Abandoned factory-built homes; secured parties
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§5363.1. Abandoned factory-built homes; secured parties A. Definitions. (1) "Abandoned" or "abandonment" means that the secured party has been notified by the mortgagor or by the owner of the immovable property on which the factory-built home is located that the mortgagor no long…
La. Rev. Stat. § 9:5381 Ships and other vessels, hypothecation and conveyance; record; effect
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§5381. Ships and other vessels, hypothecation and conveyance; record; effect In addition to the conveyances and securities otherwise allowed by law, all hypothecations and conveyances of ships, steamboats, and other vessels, or parts thereof, made in good faith and for a valuable…
La. Rev. Stat. § 9:5382 Right of mortgage holder to recover for disposal or conversion of property
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§5382. Right of mortgage holder to recover for disposal or conversion of property The holder of a conventional mortgage shall have the same rights, privileges, and actions as the mortgagor land owner to recover against any person who, without the written consent of the mortgagee,…
La. Rev. Stat. § 9:5383 Transfers of more than one parcel of immovable property
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§5383. Transfers of more than one parcel of immovable property In a transfer of more than one parcel of immovable property, no assumption in globo is created by the assumption by a purchaser of more than one vendor's privilege and/or mortgage, unless the contrary is expressed in …
La. Rev. Stat. § 9:5384 Assumption of a mortgage on immovable property by a third person
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§5384. Assumption of a mortgage on immovable property by a third person 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 …
La. Rev. Stat. § 9:5385 Satisfaction of mortgage; production of promissory note or release for
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§5385. Satisfaction of mortgage; production of promissory note or release for cancellation; liability A. When the obligation secured by a mortgage has been fully satisfied, the mortgagee, the servicing agent, or any holder of the note shall, within thirty days of receipt of writt…
La. Rev. Stat. § 9:5386 Mortgage including pledge of mortgagor's rights to insurance
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§5386. Mortgage including pledge of mortgagor's rights to insurance A. A mortgage of an immovable may contain a pledge of the mortgagor's rights under policies of insurance covering the immovable. In that event, the pledge has effect as to third persons when the act of mortgage i…
La. Rev. Stat. § 9:5388 Authority to carry out and enforce rights
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§5388. Authority to carry out and enforce rights A mortgage or security agreement may contain provisions granting the mortgagee or secured party and its agents the power to carry out and enforce all or any specified portion of the incorporeal rights collaterally assigned or pledg…
La. Rev. Stat. § 9:5389 Additional funds advanced under mortgage or security agreement
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§5389. Additional funds advanced under mortgage or security agreement A. A mortgage or security interest shall secure additional funds that may be advanced by the mortgagee or secured party for the protection, preservation, repair, or recovery of the mortgaged or encumbered prope…
La. Rev. Stat. § 9:5390 Amendment, renewal, or refinancing of mortgage and mortgage note
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§5390. Amendment, renewal, or refinancing of mortgage and mortgage note A. The effectiveness, validity, enforceability, and priority of a conventional mortgage, conventional chattel mortgage, or security agreement are not adversely affected by a change in the terms of the note or…
La. Rev. Stat. § 9:5391 Additions, accessions, and natural increases subject to mortgage
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§5391. Additions, accessions, and natural increases subject to mortgage A mortgage of immovable property without further action attaches to present and future component parts thereof and accessions thereto, without further description and without the necessity of subsequently ame…
La. Rev. Stat. § 9:5392 Continuation of mortgage after judgment
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§5392. Continuation of mortgage after judgment A mortgage shall continue when the mortgagee has reduced to judgment any obligation thereby secured, and shall secure such judgment without interruption, whether it expressly recognizes the mortgage, except to the extent that the jud…
La. Rev. Stat. § 9:5393 Combination forms
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§5393. Combination forms A. A mortgage note and mortgage or a promissory note and security agreement under Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.) may be combined under a single form, with the maker/mortgagor or debtor signing in one location on the fa…
La. Rev. Stat. § 9:5394 Applicability
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§5394. Applicability To the extent not otherwise governed under Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.), R.S. 9:5386 through R.S. 9:5393 shall apply to all mortgages and security interests, including collateral mortgages, chattel mortgages, and collate…
La. Rev. Stat. § 9:5395 Protection of mortgage lenders and fiduciaries from state environmental liability; parity with federal law
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§5395. Protection of mortgage lenders and fiduciaries from state environmental liability; parity with federal law It is the intent of the legislature that financial institutions, fiduciaries, and other secured lenders shall have no greater exposure to environmental liability and …
La. Rev. Stat. § 9:5396 Maintenance of abandoned mortgaged property
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§5396. Maintenance of abandoned mortgaged property A. If a mortgagee or loan servicer receives a notice from a governing authority in accordance with R.S. 33:5062 or R.S. 33:5065 et seq., identifying certain maintenance required on the mortgaged property, the mortgagee and loan s…
La. Rev. Stat. § 9:55 Short title
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§55. Short title This Part shall be known as and may be cited as the "Women's Safety and Protection Act". Acts 2024, No. 436, §1.
La. Rev. Stat. § 9:5501 Affidavit of distinction; acknowledgment; contents; damages
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§5501. Affidavit of distinction; acknowledgment; contents; damages A.(1) An owner of immovable property with a name similar to that of a debtor against whom a judgment has been obtained and recorded may execute an affidavit of distinction before a notary public or before any auth…
La. Rev. Stat. § 9:5501.1 Sworn affidavit; form
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§5501.1. Sworn affidavit; form A. Notwithstanding the provisions of R.S. 13:841 et seq. the clerks of the several district courts shall provide to any person who makes a request the following affidavit and acknowledgment form and shall notarize and record the affidavit subject to…
La. Rev. Stat. § 9:5503 Affidavit of identity; content; effect; penalty for falsifying
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§5503. Affidavit of identity; content; effect; penalty for falsifying A. If the judgment creditor cannot be located or does not comply with R.S. 9:5501, any person may execute before a notary public or any authorized employee of the clerk's office on a form provided by the clerk …
La. Rev. Stat. § 9:5504 Privileges and liens in favor of state, parish, or municipal bodies
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§5504. Privileges and liens in favor of state, parish, or municipal bodies Liens and privileges against property granted in favor of parishes or municipalities for assessments for public improvements or for reasonable charges imposed on property pursuant to the provisions of R.S.…
La. Rev. Stat. § 9:5521 Short title
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§5521. Short title This Chapter shall be known and may be cited as the Ship Mortgage Law. Added by Acts 1975, No. 368, §1.
La. Rev. Stat. § 9:5522 Definitions
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§5522. Definitions In this Chapter unless the context otherwise requires: (1) "Contract" means a written agreement for the construction of a ship. (2) "Ship" means a tug, pushboat, pullboat, barge, dredge, or other vessel or watercraft of more than fifty tons gross weight to be c…
La. Rev. Stat. § 9:5523 Identifying numbers
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§5523. Identifying numbers A. Every builder shall assign a hull number to each ship to be constructed by such builder. B. The builder shall affix a plaque showing the name of the builder, the hull number, and the parish in which the ship is to be constructed, to the keel of the s…
La. Rev. Stat. § 9:5524 Title to work; materials and components
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§5524. Title to work; materials and components A. Whenever a contract provides that the purchaser shall be the owner of the ship to be constructed pursuant to the contract and title to the work shall vest in the purchaser as and when performed, the work shall be deemed to have be…
La. Rev. Stat. § 9:5525 Mortgage of ships; materials and components
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§5525. Mortgage of ships; materials and components A. Whenever a contract provides that the purchaser shall be the owner of the ship to be constructed pursuant to the contract and title to the work shall vest in the purchaser as and when performed, it shall be lawful for the purc…
La. Rev. Stat. § 9:5526 Mortgage to be in writing; description and content
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§5526. Mortgage to be in writing; description and content Every mortgage of a ship subject to this Chapter entered into prior to the time Chapter 9 of the Louisiana Commercial Laws becomes effective shall be in writing and shall state the hull number of the mortgaged ship, and th…
La. Rev. Stat. § 9:5527 Authentication; filing; fee
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§5527. Authentication; filing; fee In order to affect third persons, every mortgage of a ship subject to this Chapter entered into prior to the time Chapter 9 of the Louisiana Commercial Laws becomes effective shall be by authentic act, or by private act, duly authenticated in an…
La. Rev. Stat. § 9:5528 Effect of filing; rights and privileges retained
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§5528. Effect of filing; rights and privileges retained Every mortgage of a ship shall be effective as against third persons from the time of filing in the proper offices, and the filing shall be notice to all parties of the existence of the mortgage, which shall be superior in r…
La. Rev. Stat. § 9:5529 Ship mortgage book; form
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§5529. Ship mortgage book; form For the purposes of this Chapter, it shall be sufficient for the recorders of mortgages each to keep a book to be known as the ship mortgage book, which shall be ruled off into columns, with the headings as follows: Time of filing for Recordation; …
La. Rev. Stat. § 9:5530 Cancellation; reinscription; fee
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§5530. Cancellation; reinscription; fee A. When any mortgage of a ship under this Chapter shall have been fully paid or satisfied the mortgage may be cancelled in any manner provided by law for the cancellation of mortgages on immovable property. The effect of a mortgage of a shi…
La. Rev. Stat. § 9:5531 Failure to affix hull number; removal of hull number; penalty
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§5531. Failure to affix hull number; removal of hull number; penalty If the builder shall fail to affix a plaque or to mark or stamp any materials or components, or fail to maintain records as an alternative to marking or stamping any materials or components, as provided in R.S. …
La. Rev. Stat. § 9:5532 Mortgaging with fraudulent intent; penalty
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§5532. Mortgaging with fraudulent intent; penalty If any person shall fraudulently give or attempt to give a mortgage or a security interest under Chapter 9 of the Louisiana Commercial Laws on a ship subject to this Chapter without being the owner thereof or without having the pr…
La. Rev. Stat. § 9:5533 Disposal of mortgaged ship with fraudulent intent; penalty
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§5533. Disposal of mortgaged ship with fraudulent intent; penalty Any person who, having executed a mortgage or security agreement under Chapter 9 of the Louisiana Commercial Laws on a ship subject to this Chapter, sells, assigns, exchanges, injures, destroys, conceals, or otherw…
La. Rev. Stat. § 9:5534 Acceleration of maturity date, grounds for
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§5534. Acceleration of maturity date, grounds for The obligation secured by the act of mortgage shall, at the option of the creditor or holder of the mortgage note, forthwith mature and become due and payable and the mortgagee shall be entitled to enforce the collection of the ob…
La. Rev. Stat. § 9:5535 Fraudulent release of mortgage; penalty
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§5535. Fraudulent release of mortgage; penalty If any mortgagee named in a mortgage of a ship, and not being at the time the owner and holder of the debt secured, shall fraudulently execute a release or satisfaction of said mortgage, he shall be fined not more than five hundred d…
La. Rev. Stat. § 9:5536 Remedies of creditors
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§5536. Remedies of creditors All laws and rules and all remedies and processes now or hereafter made available to creditors for the protection or enforcement of their rights under mortgages affecting immovables shall be available to creditors of obligations secured by mortgages a…
La. Rev. Stat. § 9:5537 Ship mortgage certificates; fee
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§5537. Ship mortgage certificates; fee When so requested recorders of mortgages shall furnish a certificate in the name or names requested showing all uncancelled mortgages on a ship which operate upon the ship described in the request, and shall receive as a fee therefor the sum…
La. Rev. Stat. § 9:5538 Relation to Chapter 9 of the Louisiana Commercial Laws
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§5538. Relation to Chapter 9 of the Louisiana Commercial Laws A. This Chapter shall apply to Louisiana ship mortgages that were entered into prior to the time Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.) became effective, including without limitation those …
La. Rev. Stat. § 9:5550 Definitions
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§5550. Definitions The following words, phrases, and terms as used in this Part shall be defined and construed as follows: (1) "Collateral mortgage" shall mean a mortgage that is given to secure a written obligation, such as a collateral mortgage note, negotiable or nonnegotiable…
La. Rev. Stat. § 9:5551 Effective date of a collateral mortgage
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§5551. Effective date of a collateral mortgage A. A collateral mortgage becomes effective as to third parties, subject to the requirements of registry of the collateral mortgage, when a security interest is perfected in the obligation secured by the collateral mortgage in accorda…
La. Rev. Stat. § 9:5552 Defenses to enforcement of a collateral mortgage
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§5552. Defenses to enforcement of a collateral mortgage A. If the obligor of the written obligation that the collateral mortgage secures does not raise the following defenses or claim the extinction of the collateral mortgage, then the mortgagor may not raise as a defense to the …
La. Rev. Stat. § 9:5553 Defenses to enforcement of a vendor's privilege
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§5553. Defenses to enforcement of a vendor's privilege If the obligor of the written obligation that the vendor's privilege secures does not raise the following defenses or claim the extinction of the vendor's privilege, then, as long as the effects of recordation continue in acc…
