Marie is purchasing a home in Baton Rouge. At closing, the seller executes a document transferring ownership of the immovable property to Marie before a notary public and two witnesses. Under Louisiana law, what is this transfer document most accurately called?
Correct Answer
A) Act of Sale
Under Louisiana Civil Code and the state's unique Civil Law system, the transfer of immovable property (real estate) is accomplished through an 'Act of Sale' rather than a deed. The Act of Sale must be executed before a notary public and two witnesses, or by authentic act, to be valid and recordable. This terminology is exclusive to Louisiana and reflects its Napoleonic Code heritage. See La. Civil Code Art. 1839 and La. R.S. 35:11 et seq.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
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