§ Art. 2723 Appraisal of property, unless waived

Codes > Louisiana Code of Civil Procedure > Book I > Title II : Chapter 4 > Art. 2723

Art. 2723. Appraisal of property, unless waived

    Prior to the sale, the property seized must be appraised in accordance with law, unless appraisal has been waived in the act evidencing the mortgage, the security agreement, or the document creating the privilege and plaintiff has prayed that the property be sold without appraisal, and the order directing the issuance of the writ of seizure and sale has directed that the property be sold as prayed for. There is no requirement that seized property subject to a security interest under Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.), be appraised prior to the judicial sale thereof.

    LEGISLATIVE INTENT--ACTS 1989, NO. 137

     Acts 1989, No. 137, § 18 of which amended this article, affected numerous articles of the Civil Code and the Code of
Civil Procedure and sections of various Titles of the Revised Statutes. Section 20 of Act 137 provides: 

    “Section 20. It is the intent of the Legislature in enacting this Act to amend the preexisting Louisiana security device laws
to accompany and accommodate implementation of Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.) as previously enacted under Act 528 of 1988. It is further the intent of the legislature that these preexisting Louisiana laws, including without limitation the various statutes and code articles amended and reenacted under this Act, not be expressly or impliedly repealed by Chapter 9 of the Louisiana Commercial Laws, but that such laws remain in effect and be applied to preexisting secured transactions and, at times when so provided, be applied to secured transactions subject to Chapter 9 of the Louisiana Commercial Laws.”