Louisiana Loan Guaranty Agreement
Description
How to fill out Loan Guaranty Agreement?
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FAQ
Redhibition in Louisiana The concept of redhibition dates back to the Louisiana Civil Code of 1870. While the law has changed over the years, Louisiana redhibition statutes offer a legal remedy for consumers who purchased a defective automobile, watercraft, or recreational vehicle.
The Louisiana New Home Warranty Act (LNHWA) provides the exclusive warranties, remedies, and peremptive periods as between builder and owner relative to home construction and no other provisions of law relative to warranties and redhibitory vices and defects shall apply.
The Louisiana Civil Code provides an implied warranty for all things sold. Specifically, a seller warrants the buyer against all redhibitory vices and defects.
The legislature finds a need to promote commerce in Louisiana by providing clear, concise, and mandatory warranties for the purchasers and occupants of new homes in Louisiana and by providing for the use of homeowners' insurance as additional protection for the public against defects in the construction of new homes.
What Is the Louisiana New Home Warranty Act? In the 1980s, the Louisiana legislature enacted a law to protect residents buying newly built homes. The law states that builders of newly constructed homes must ensure the homes are free of certain defects for up to five years.
