2011 Louisiana Laws
CC 588 — Discharge of debt on encumbered property; usufruct established inter vivos
Art. 588. Discharge of debt on encumbered property; usufruct established inter vivos
When property subject to a usufruct established inter vivos is encumbered to secure a debt before the commencement of the usufruct, the usufructuary may advance the funds needed to discharge the indebtedness. If he does so, the naked owner shall reimburse the usufructuary, without interest, at the termination of the usufruct, for the principal of the debt the usufructuary has discharged, and for any interest the usufructuary has paid that had accrued on the debt before the commencement of the usufruct.
Acts 1976, No. 103, §1; Acts 2010, No. 881, §1, eff. July 2, 2010.
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