Conveyance and Mortgage of Immovables – Vendor’s privilege

Conveyance and Mortgage of Immovables – Vendor’s privilege

Art. 3249. Special privileges on immovables. Creditors who have a privilege on immovables, are: 1. The vendor on the estate by him sold, for the payment of the price or so much of it as is unpaid, whether it was sold on or without a credit.

Art. 3250. Extent of vendor’s privilege. The privilege granted to the vendor on the immovable sold by him, extends to the beasts and agricultural implements attached to the estate, and which made part of the sale.

Art. 3251. Successive sales, preference among vendors. If there are several successive sales, on which the price is due wholly or in part, the first vendor is preferred to the second, the second to the third, and so throughout and as provided by Article 3186, and assuming timely recordation as provided in Article 3274, each such vendor is preferred to the previously recorded mortgages of his vendees and their successors.

Art. 3271. Vendor’s privilege on immovables, recordation. The vendor of an immovable only preserves his privilege on the object, when he has caused to be duly recorded at the office for recording mortgages, his act of sale, in the manner directed hereafter, whatever may be the amount due to him on the sale.

Art. 3273. Recordation, effect against third persons. Privileges are valid against third persons, from the date of the recording of the act or evidence of indebtedness as provided by law.

Art. 3274. Time and place of recordation; effectiveness. No privilege shall have effect against third persons, unless recorded in the manner required by law in the parish where the property to be affected is situated. It shall confer no preference on the creditor who holds it, over creditors who have acquired a mortgage, unless the act or other evidence of the debt is recorded within seven days from the date of the act or obligation of indebtedness when the registry is required to be made in the parish where the act was passed or the indebtedness originated and within fifteen days, if the registry is required to be made in any other parish of this State. It shall, however, have effect against all parties from date of registry.