HLS 10RS-721 ENGROSSED
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. 803
BY REPRESENTATIVE TIM BURNS
MORTGAGES: Provides relative to bond for deed contracts
AN ACT1
To amend and reenact R.S. 9:2941.1(A), relative to bond for deed contracts; to provide2
relative to recordation and priority; and to provide for related matters.3
Be it enacted by the Legislature of Louisiana:4
Section 1. R.S. 9:2941.1(A) is hereby amended and reenacted to read as follows: 5
ยง2941.1. Recordation; subsequent filings; interest prohibited; cancellation of6
mortgage records7
A. Upon the recordation in the mortgage and conveyance records of a bond8
for deed contract as defined in R.S. 9:2941, any sale, contract, counter letter9
counterletter, lease, or conventional or collateral mortgage executed by the bond for10
deed seller, and no any lien, privilege, or judgment relating to or purporting to affect11
immovable property that has not been filed previously for registry or recorded in the12
mortgage records shall be subject to the rights created by the bond for deed contract.13
* * *14 HLS 10RS-721 ENGROSSED
HB NO. 803
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. 803
Abstract: Provides that any lien, privilege, or judgment filed after the bond for deed
contract is subject to the rights created by the bond for deed contract.
Present law provides that upon the recordation in the mortgage and conveyance records of
a bond for deed contract, any sale, contract, counterletter, lease, or conventional or collateral
mortgage executed by the bond for deed seller shall be subject to the rights created by the
bond for deed contract. Further provides that no lien, privilege, or judgment relating to or
purporting to affect immovable property that has not been filed previously for registry or
recorded in the mortgage records shall be subject to the rights created by the bond for deed
contract.
Present law provides that following registry of the bond for deed contract, any instrument
that was filed in the mortgage records after the filing of the bond for deed contract shall be
cancelled by the clerk of court upon request by affidavit of any interested party, but only
insofar as it affects the property described in the bond for deed and subsequent sale, after the
noteholder or lienholder has been given 30 days written notice and fails to execute a release.
Proposed law retains present law, except that the reference to conventional or collateral
mortgages is changed to apply to any mortgage, and proposed law provides that any lien,
privilege, or judgment relating to or purporting to affect immovable property that has not
been filed prior to the bond for deed contract shall be subject to the rights created by the
bond for deed contract.
(Amends R.S. 9:2941.1(A))
Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Civil Law and Procedure
to the original bill.
1. Deleted changes to the definition of a "bond for deed".