Dation En Paiement Louisiana

Louisiana Dation En Paiement
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Description dation

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. In this example, the debtor is in debt to the creditor on both a mortgage obligation and a Consumer Security Agreement. To satisfy the debts, the debtor transfers to the creditor both the mortgaged property and a vehicle.

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