As used in this Chapter, a sale/lease-back is a commercial transaction consisting of a contemporaneous sale of property to a person who contemporaneously leases the property back to the vendor, with the original vendor-lessee retaining physical possession of the property at all times pertinent to the transaction.
R.S. 9:3372 active rs title
Sale/lease-back defined ACTIVE
Actions
References
None.
Cited by
None.
History
- enactment Acts 2001, No. 866, §1