privileges

Question 1

generally

what is a privilege

Answer 1

a real security device that arises by operation of law

Question 2

lessor’s privilege

what’s the general understanding of this privilege

Answer 2

privilege on all of the lessee’s movable property located on leased immovable property to secure (1) rental price and (2) other lease obligations

Question 3

lessor’s privilege

when does this privilege generally exist

Answer 3

only for movable property on the leased premises

Question 4

lessor’s privilege

when does the privilege extend beyond the general rule

Answer 4

Extends for 15 days after the lessee removes movable property if (1) lessor did not consent and (2) lessee still owns the removed movables

Question 5

vendor’s privilege

when does the vendor’s privilege attach

Answer 5

any movable or immovable property sold to secure the purchase price

Question 6

vendor’s privilege

when does this privilege exist for movables

Answer 6

when they are in the buyer’s possession

Question 7

vendor’s privilege

when does this privilege exist for immovables

Answer 7

1. act of credit sale
2. recorded in mortgage and conveyance records

Question 8

vendor’s privilege

when will a vendor’s privilege outrank a prior recorded mortgage on an immovable

Answer 8

if the act of credit sale is recorded within (1) 7 days if the act of credit sale if you’re recording in the same parish where the sale was executed; or (2) within 15 days if the act of sale if you’re recording in a differrent parish than where the act of credit sale was executed