If an instrument creating a mortgage or pledge or evidencing a privilege describes the maturity of any obligation secured by the mortgage, pledge, or privilege and if any part of the described obligation matures nine years or more after the date of the instrument, the effect of recordation ceases six years after the latest maturity date described in the instrument.
Article 3358 active cc book
Duration of recordation of certain mortgages, pledges, and privileges ACTIVE
Actions
References
None.
Cited by
History
- enactment Acts 2005, No. 169, §1, eff. Jan. 1, 2006
- amendment Acts 2014, No. 281, §1, eff. Jan. 1, 2015. NOTE: Acts 2005, 1st Ex. Sess., No. 13, §1, changed the effective date of Acts 2005, No. 169, to July 1, 2006