La. Civ. Code art. 1342
This is the official text of La. Civ. Code art. 1342, part of Louisiana’s Civil Code — louisiana's civil law tradition codifies persons, property, obligations, and family relations here rather than in a separate statutory code.
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Terms of sale of succession effects where heirs present demand sale for cash.
Official statutory text
If there be, among the heirs of the deceased, any who are of age and present, and who demand that the sale be made for cash, it shall be made for cash, for a sufficient sum to cover the portion coming to them, and on a credit for the balance, on the terms prescribed by the other heirs.
But on the partition of the proceeds of the sale, the whole amount shall be reduced to its cash value, by deducting from the whole sum to be paid, * eight per cent. per annum, and those heirs who require their portion in cash, shall receive it on the whole amount thus reduced.
* English translation of French text incomplete; should include "on credit."
But on the partition of the proceeds of the sale, the whole amount shall be reduced to its cash value, by deducting from the whole sum to be paid, * eight per cent. per annum, and those heirs who require their portion in cash, shall receive it on the whole amount thus reduced.
* English translation of French text incomplete; should include "on credit."
Status: in_force · Read it on the official government site
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