Tag Archive: "Louisiana"
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Louisiana Provisions Regarding Cancellation of Mortgages
Louisiana has passed House Bill 172 which provides for the cancellation or partial release of inferior mortgages and liens on a property sold at sheriff’s sale.
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Louisiana Modifies Recording Requirements
Louisiana has passed Senate Bill No. 236 which amends, reenacts and sets forth several provisions relating to recording fees, recording standards, the maintenance of recorded documents, and the electronic recording of documents. These provisions are effective on August 1, 2017.
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Louisiana Amends Provisions Regarding Cancellation of Mortgages
The state of Louisiana has passed HB 400 which amends provisions relating to the cancellation of mortgages and adds provisions relating to the partial cancellation of mortgages. These amendments include changes to the model form for cancellation of mortgages and the addition of a model form for the partial cancellation of mortgages. The provisions of HB 400 take effect August 1, 2017.
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Louisiana Amends Provisions Regarding Trusts
The state of Louisiana has recently updated its Trust Code, through House Bill No. 286, which is effective August 1, 2016. One of the revisions applies to the situation where a beneficiary dies before the settlor (the person who created the trust). The update expands the category of parties to whom the settlor may shift […]
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Louisiana Amends Consumer Credit Provisions – House Bill 766
by: Louis Danastorg Louisiana’s legislature amended and enacted provisions governing licensees of consumer credit and deferred presentment transactions relating to contract nullification, license requirements, record retention and loan payment plans. R.S. 9:3518.4 nullifies, voids, or otherwise makes unenforceable any consumer credit transaction made by a creditor that has not obtained a Louisiana license. An unlicensed […]
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Louisiana Enacts Credit Report and Mortgage Servicer Laws
by: Louis Danastorg House Bill 844: Credit Reports of Protected Persons Louisiana has enacted R.S. 9:3571.3, provisions relating to credits reports, security freezes, and the release of credit information of protected persons. Protected person refers to someone sixteen years old or younger, an interdicted person having been appointed a curator, or an incapacitated person having […]
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Louisiana Amends and Reenacts Provisions Relating to Blighted Property and Health, Housing, Fire Code, Environmental, and Other Ordinance Violations-Senate Bill No. 51
by: Louis Danastorg Louisiana’s Legislature has recently acted to amend and reinstitute provisions relating to administrative adjudication procedures regarding blighted property and health, housing, fire code, environmental, or other ordinance violations. In Louisiana any municipality or parish may prescribe civil fines for property declared blighted or violations of public health, housing, fire code, environmental and […]
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Louisiana Modifies Provisions Regarding Seizures and Sales
by Louis Danastrong J.D.In Louisiana, the General Assembly has recently modified its seizure and sale of property provisions. Typically, a court will only grant a writ of seizure and sale after a lender first exhausts all other possible means of compelling payment from the judgment debtor. Once they have taken the appropriate steps, the lender […]
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Louisiana Adds Foreclosure and Credit Agreement Provisions
by Louis Danastorg, J.D., M.B.A. Provisions Regarding Foreclosure Action Starting August 1st, 2013, Louisiana’s newly added provisions concerning leases and residential lessee’s (including prospective lessees) right to notification of a foreclosure action come into effect for all lessors in residential leases, even those leasing property subject to a federally-related mortgage loan or receiving housing subsidies, […]