ENROLLED
ACT No. 62
2017 Regular Session
HOUSE BILL NO. 400
BY REPRESENTATIVE GAROFALO
1 AN ACT
2 To amend and reenact R.S. 9:5172(A)(introductory paragraph) and (1) and (B) and 5173 and
3 to enact R.S. 9:5172(A)(3) and 5173.1, relative to the cancellation of mortgages; to
4 provide for procedure; to change certain form requirements; to provide a form for
5 partial cancellation of a mortgage; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 9:5172(A)(introductory paragraph) and (1) and (B) and 5173 are
8 hereby amended and reenacted and R.S. 9:5172(A)(3) and 5173.1 are hereby enacted to read
9 as follows:
10 §5172. Cancellation; partial cancellation; licensed financial institution
11 A. In lieu of complying with the provisions of R.S. 9:5169, 5170, and 5171,
12 a request for cancellation or partial cancellation may have attached to it the signed,
13 written act of a licensed financial institution executed before a notary public
14 represented by one of its officers and executed or duly acknowledged before a notary
15 public with or without witnesses, or any act in any form that is otherwise self-
16 proving under the provisions of Code of Evidence Article 902(1), (2), (3), or (8), or
17 an act under private signature by two authorized officers of the licensed financial
18 institution, declaring that the obligee is a licensed financial institution as defined in
19 Subsection C of this Section and that the institution meets any of the following
20 criteria:
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1 (1) Was the obligee or the authorized agent of the obligee of the obligation
2 secured by the mortgage or privilege when the obligation was extinguished and that
3 the secured obligation has been paid or otherwise satisfied or extinguished; or .
4 * * *
5 (3) Is the obligee or authorized agent of the obligee of the secured obligation
6 and that it partially releases the mortgage or privilege and directs the recorder to
7 partially cancel its recordation.
8 B. When a request for cancellation or partial cancellation is made by the
9 licensed financial institution, in lieu of attaching a separate act of release or partial
10 release, the financial institution may include the information required by R.S.
11 9:5169, 5170, and 5171 if the request is in authentic or authenticated form or
12 otherwise complies with Subsection A of this Section.
13 * * *
14 §5173. Mortgage or privilege cancellation by financial institution-standard form
15 A financial institution seeking to cancel a mortgage or privilege inscription
16 pursuant to R.S. 9:5172 may use, and the recorder of mortgages for each and every
17 parish in the state of Louisiana shall accept, the following form as fully compliant
18 as a request for cancellation and act of release. The form contained in this Section
19 is not the exclusive form to be accepted for filing, and any other form meeting the
20 requirements of R.S.9:5172 may be used and filed for canceling the recordation of
21 a mortgage or privilege:
22 R.S. 9:5172 FORM:
23 REQUEST FOR CANCELLATION OF MORTGAGE OR PRIVILEGE AND
24 RELEASE BY LICENSED FINANCIAL INSTITUTION
25 PURSUANT TO R.S. 9:5172
26 State of ____________________
27 Parish or County of ______________________
28 BE IT KNOWN THAT on this _______day of _____________, 20____,
29 before me, the undersigned Notary Public, appeared ____________________ (name
30 of financial institution) herein represented by its undersigned duly authorized
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1 representative, which declared officer or officers, declares that it is a licensed
2 financial institution as defined in R.S. 9:5172 et seq. and that one of the following
3 statements is true and correct:
4 (1) The institution was the obligee or the authorized agent of the obligee of
5 the obligation secured by the mortgage or privilege described below when the
6 obligation was extinguished, and the secured obligation has been paid or otherwise
7 satisfied or extinguished; or
8 (2) The institution is the obligee or authorized agent of the obligee of the
9 secured obligation, and it releases the mortgage or privilege described below.
10 The Clerk of Court and Ex-Officio Recorder of Mortgages for the Parish
11 identified below is hereby expressly requested, authorized, and directed to cancel the
12 recordation of the mortgage or privilege described as follows:
13 A mortgage or privilege granted by:
14 In favor of:
15 Date of Instrument:
16 Parish of Recordation:
17 Recording Data:
18 Legal description is as follows or is hereby attached as Exhibit "A":
19
20
21
22
23 .
24 (3) The recorder of mortgages shall not be liable for any damages resulting
25 to any person or entity as a consequence of canceling a mortgage or vendor's
26 privilege pursuant to this form.
27 [Choose one of the two following signature options.]
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1 THUS DONE AND PASSED SIGNED before me, Notary Public, on the date
2 set forth above.
3 _______________________________________________
4 Name of officer and title
5 Name of financial institution
6 Requested mailing address
7 City, state, and zip code
8 _____________________________________
9 Notary Public
10 (Printed name of notary and bar roll or notary number)
11 OR
12 THUS DONE AND SIGNED by the two undersigned authorized officers of the
13 above named financial institution.
14
15 Name of officer and title
16 Name of financial institution
17 Requested mailing address
18 City, state, and zip code
19
20 Name of officer and title
21 Name of financial institution
22 Requested mailing address
23 City, state, and zip code
24 §5173.1. Mortgage or privilege partial cancellation by financial institution-standard
25 form
26 A financial institution seeking a partial cancellation of a mortgage or
27 privilege inscription pursuant to R.S. 9:5172 may use, and the recorder of mortgages
28 for each and every parish in the state of Louisiana shall accept, the following form
29 as fully compliant as a request for partial cancellation and act of partial release. The
30 form contained in this Section is not the exclusive form to be accepted for filing, and
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1 any other form meeting the requirements of R.S. 9:5172 may be used and filed to
2 partially cancel the recordation of a mortgage or privilege:
3 REQUEST FOR PARTIAL CANCELLATION OF MORTGAGE OR PRIVILEGE
4 AND PARTIAL RELEASE BY LICENSED FINANCIAL INSTITUTION
5 PURSUANT TO R.S. 9:5172
6 State of ____________________
7 Parish or County of ______________________
8 BE IT KNOWN THAT on this ____day___________of 20____,
9 _________________ (name of financial institution), herein represented by its
10 undersigned duly authorized officer or officers, declares the following:
11 The institution is a licensed financial institution as defined in R.S. 9:5172 et
12 seq., and is the obligee or authorized agent of the obligee for the obligation secured
13 by the mortgage or privilege described as follows:
14 A mortgage or privilege granted by:_________
15 In favor of: _____
16 Date of Instrument: _____
17 Parish of Recordation: _____
18 Recording Data: _____
19 The institution grants a partial release of the above-described mortgage or
20 privilege, and does hereby release ONLY the following described property from the
21 above-described mortgage or privilege, to wit:
22 Legal description of released property is as follows or is hereby attached as
23 Exhibit "A":
24 __________________________________________________________________
25 __________________________________________________________________
26 __________________________________________________________________
27 The institution hereby requests, authorizes, and directs the Clerk of Court and
28 Ex-Officio Recorder of Mortgages for the Parish in which the above-described
29 property is situated to release the above-described property from the mortgage or
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1 privilege described above and to partially cancel the above-described mortgage or
2 privilege ONLY AS TO such described property hereby released from the same.
3 The institution further expressly declares that the above-described mortgage
4 or privilege is not released or cancelled as to any other property described in such
5 mortgage or privilege, and such mortgage or privilege shall continue to encumber
6 and remain in full force and effect as to all other property described therein.
7 The recorder of mortgages shall not be liable for any damages resulting to
8 any person or entity as a consequence of partially cancelling a mortgage or vendor's
9 privilege pursuant to this form.
10 [Choose one of the two following signature options.]
11 THUS DONE AND SIGNED, before me, Notary Public, on the date set forth
12 above.
13 ________________________________________________
14 Name of officer and title
15 Name of financial institution
16 Requested mailing address
17 City, state, and zip code
18 __________________________________
19 Notary Public
20 (Printed name of notary and bar roll or notary number)
21 OR
22 THUS DONE AND SIGNED, by the two undersigned authorized officers of
23 the above named financial institution on the date set forth above.
24 ________________________________________________
25 Name of officer and title
26 Name of financial institution
27 Requested mailing address
28 City, state, and zip code
29 ________________________________________________
30 Name of officer and title
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1 Name of financial institution
2 Requested mailing address
3 City, state, and zip code
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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