Dation En Paiement

Louisiana Dation En Paiement on Mortgage Loan Obligation
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Description dation en

A Dation en Paiement is the giving by a debtor to a creditor of something other than money to cancel a debt. Usually a dation is made of mortgaged property to the mortgage holder in exchange for canceling the debt. This example is a conveyance of immovable property to a mortgage creditor in satisfaction of the mortgage obligation. See R.C.C. 2655, et seq. For an agreement by which property is transferred in partial payment of debt, see document Partial Dation En Paiement: LA-497-M.

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