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Louisiana Code of Civil Procedure Tit. IX, Art. 4626.1. Judgment ordering reimbursement or payment of amounts due co-owner and payment and allocation of costs of private sale out of proceeds of sale

Current as of January 01, 2023 | Updated by Findlaw Staff

A judgment ordering the private sale of property to effect a partition under the provisions of this Chapter shall order, out of the proceeds of such sale, all of the following:

(1) The reimbursement to a co-owner of the amount proven to be due the co-owner for the payment of taxes on the property and the expenses of preservation of the property.

(2) The payment to a co-owner of the amount proven to be due the co-owner by another co-owner who has received and retained the fruits and revenues of the property.

(3)(a) The payment of reasonable costs related to the sale, including real estate commissions, brokerage fees, appraisal costs, payments associated with the release of encumbrances and other customary closing costs, and the allocation of such costs to one or more co-owners.

(b) The court in rendering judgment shall consider whether the costs associated with the sale will be paid to any person related to the co-owners within the fourth degree or a juridical entity in which the co-owner has a direct or indirect financial interest.

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Cite this article: FindLaw.com - Louisiana Code of Civil Procedure Tit. IX, Art. 4626.1. Judgment ordering reimbursement or payment of amounts due co-owner and payment and allocation of costs of private sale out of proceeds of sale - last updated January 01, 2023 | https://codes.findlaw.com/la/code-of-civil-procedure/la-code-civ-proc-tit-ix-art-4626-1/

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