HLS 10RS-719 ORIGINAL
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2010
HOUSE BILL NO. 802
BY REPRESENTATIVE TIM BURNS
MORTGAGES: Provides relative to mortgages
AN ACT1
To amend and reenact Civil Code Article 3298(A) and (E), relative to mortgages; to provide2
relative to mortgages securing future obligations; to provide for definitions; to3
provide relative to the effects of recordation; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. Civil Code Article 3298(A) and (E) are hereby amended and reenacted6
to read as follows:7
Art. 3298. Mortgage may secure future obligations 8
A. A mortgage may secure obligations that may arise in the future ., which9
may include but are not limited to future advance mortgages, multiple indebtedness10
mortgages, home equity mortgages, or home equity lines of credit mortgages.11
* * *12
E. The mortgage continues until it is terminated by the mortgagor or his13
successor in the manner provided in Paragraph D of this Article, or until the14
mortgage is extinguished in some other lawful manner. The effect of recordation of15
the mortgage ceases ten years after its date unless the mortgage describes the16
maturity date of any obligation it secures, in which case, the effect of recordation is17
governed by Civil Code Articles 3357 and 3358.18 HLS 10RS-719 ORIGINAL
HB NO. 802
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Tim Burns HB No. 802
Abstract: Provides for types of mortgages securing a future obligation and provides that
the effect of recordation ceases 10 years after its date unless the mortgage specifies
otherwise.
Present law provides that a mortgage may secure obligations that may arise in the future.
Proposed law provides that a mortgage securing obligations arising in the future may include
future advance mortgage, multiple indebtedness mortgage, a home equity mortgage, or a
home equity line of credit mortgage.
Present law provides that the mortgage continues until it is terminated by the mortgagor or
his successor in the manner provided in present law or until the mortgage is extinguished in
some other lawful manner.
Proposed law provides that the effect of recordation of the mortgage ceases 10 years after
its date unless the mortgage describes the maturity date of any obligation it secures, in which
case, the effect of recordation is governed by Civil Code Arts. 3357 and 3358.
(Amends C.C. Art. 3298(A) and (E))