CHAPTER 5. THIRD POSSESSORS Art. 3315. Third possessor defined A third possessor is one who acquires mortgaged property and who is not personally bound for the obligation the mortgage secures. Acts 1992, No. 1132, §2, eff. Jan. 1, 1993. {{NOTE: FORMER ART. 3315 REPEALED BY ACTS 1992, NO. 1132, §1, EFF. JAN. 1, 1993.}}
Art. 3316. Liability of third possessor The deteriorations, which proceed from the deed or neglect of the third possessor to the prejudice of the creditors who have a privilege or a mortgage, give rise against the former to an action of indemnification. Acts 1992, No. 1132, §2, eff. Jan. 1, 1993.
Art. 3317. Rights of third possessor A third possessor who performs the obligation secured by the mortgage is subrogated to the rights of the obligee. In such a case, the mortgage is not extinguished by confusion as to other mortgages, privileges, or charges burdening the mortgaged property when the third possessor acquired the mortgaged property […]
Art. 3318. Right of third possessor for costs of improvements A third possessor may recover the cost of any improvements he has made to the property to the extent the improvements have enhanced the value of the property, out of the proceeds realized from enforcement of the mortgage, after the mortgagee has received the unenhanced […]
