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Regulatory Compliance | Real Estate Laws in ...Real Estate Laws in Louisiana: What You Should Know as a Property OwnerTotal Word Count: 530 Author Rating: NA  Rate this article
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One of the many unique attributes of the state of Louisiana is our legal code. Unlike the rest of the states in America, the laws in Louisiana are based on the French civil code, also referred to as the French Napoleonic code. Read more about how this may impact you if you own or are considering buying real estate in the state.
State legal systems in the
United States are based on one of two legal systems. Forty-nine states
base their laws on the common law system, first used in England. However one state, Louisiana,
uses the French Napoleonic Code as the basis for their legal system.
While common law-based legal systems rely on the rulings of judges to
set precedents that are used to make later decisions, the Louisiana
system does not. The Napoleonic Code was intended
to simplify the laws in a time when many people were illiterate or did
not have access to printed information. Ironically, the effort to create
a simpler and easier to understand legal system has resulted in one
of the more complex and least understood set of state laws here in Louisiana. There are many other distinctions
between the two systems, but it is not as important to know every single
distinction as it is to understand that there are significant differences
between the state laws in Louisiana and those of most other states. Real Estate Law Basics Real estate laws are the laws
that address the land and anything built upon that land including ownership,
usage, and transfer of ownership of that land. As discussed above, Louisiana’s
unique legal heritage has affected the current laws in many ways. One
such way is the term used to refer to real estate in this state. While
the rest of the United States uses “real estate” in legal documents,
in Louisiana real estate is referred to as “immoveable property.” Inheritance and
“Forced Heirs” Another area which requires the special attention is that of inheritance within Louisiana. The laws regarding inheritance derived from the Napoleonic Code were intended to ensure that assets remained in their family of origin, so while the other 49 states allow property to be transferred as the owner prefers after their death, this is not always the case in Louisiana. The laws regarding inheritance
of real estate can dictate that close relatives including parents or
children inherit property before anyone else. Community Property or Separate
Property? The real estate laws in Louisiana
separate property ownership into two categories:
While the difference between two distinctions may seem apparent initially, upon closer inspection, the line becomes less clear. For example, once a couple is married, all properties do not automatically become community properties, and in the case of divorce, one spouse may not have any claim to or rights in regard to certain properties. Some of the factors that are considered in this situation are when the property was purchased and which party’s funds were used, which can be a difficult fact to ascertain. ArticleSource: ArticlesAlley.com
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