La. Civ. Code art. 3269

Current with changes from the 2024 legislative session, Chs. 3, 6-496, effective on or before 7/1/2024
Section 3269 - Order of payment out of immovables; distribution of loss among mortgage creditors

With the exception of special privileges that exist on immovables in favor of vendors and other creditors, as declared above, the debts privileged on the movables and immovables generally ought to be paid, if the movables are insufficient, out of the product of the immovables belonging to the debtor, in preference to all other privileged and mortgage creditors.

The loss which may then result from their payment must be borne by the creditor whose mortgage is the least ancient, and so in succession, ascending according to the order of the mortgages, or by pro rata contributions where two or more mortgages have the same date.

La. C.C. § 3269

Amended by
Amended by Acts 2019, No. 325,s. 2, eff. 1/1/2020.