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985-674-1111
Keller Williams Realty
1522 W. Causeway
Mandeville, LA 70471


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Legal Issues from House Sold News®

 
Louisiana state laws can be very different. . .how does this affect you? Read our articles on agency, and on Louisiana's Napoleonic Code, and a lighthearted view of land titles in Louisiana.

For specific advice on moving to Louisiana, get the following email articles. Also visit our ADVICE page for many other informative email articles that you may request.

 
Agency Laws

Buyer's agent? Seller's agent? What's the difference?
Simply put. . . think about your family attorney who can advocate your side if you need to take legal action, or could defend you if someone has made claims against you. Or that attorney could mediate for both parties if they consent to such an arrangement. Under Louisiana real estate agency laws, you have the right to decide how your real estate professional works with you.

I can be your Seller's agent if you want to list your New Orleans home and I will represent your best interests when advising about a realistic asking price & promoting your house to the public and to all other agents. When we get an offer from a buyer, I again advise you according to what is in your best interests, given the current market conditions. In fact, I have a list of 229 tasks I do for you when we sign the listing brokerage contract.

I can be your Buyer's agent if you want to buy a New Orleans home, and I will represent your best interests in helping you keep one eye on finding a wonderful home & the other eye on good value that will benefit you when you resell. I guide & advise you through selection, negotiation, inspection, etc. as detailed in our buyer brokerage contract.

What is a Dual agent? In Louisiana, that only occurs when a buyer, who has signed a buyer brokerage contract with me, chooses to buy a house that is listed with me. It does not occur when my buyer chooses to buy the listing of another agent in my company, because Louisiana practices designated agency; i.e., the broker of record designates that the representation is provided to the client by the individual agent that the client selected. Our older laws used to view that all agency representation came from the broker of record, even though the firm's hundreds of clients never even meet the broker of record. This resulted in dual agency, because Joe Salesman's seller & Mary Saleswoman's buyer had the same legal agent - namely Bob Broker. But today with designated agency, confidential information does not pass between Seller's agent and Buyer's agent, and they each have separate counselors.

Louisiana no longer allows Sub-agency. It used to be that, because the buyer's agent received co-op fees from the listing commissions, they were legally supposed to be representing the seller's best interest. Not today.

For further details, or sample agency contracts, Email: the.dream.team@kw.com

 

Napoleonic Code

Napoleon, saying , Sacre bleau, thanks to me, the Americans will forever need a passport if moving to Louisiana!!!

"Sacre bleau, thanks to me,
the Americans will forever
need a passport if
moving to Louisiana!!!"

 

 

BIENVENUE 'a LOUISIANE
By
Eileen C. Sykes

When crossing the state line into Louisiana you have probably noticed the sign "Bienvenue 'a Louisiane", which means "Welcome to Louisiana", this should be your first clue that you are coming to a state where things are done just a little bit differently. The French established the first settlement by the mouth of the Mississippi River and named the territory of Louisiana for King Louis XIV and his wife. After establishing himself as the ruler of France, Napoleon combined all French civil laws into one code, which was commonly referred to as the Napoleonic Code. In 1803, the territory of Louisiana was purchased by the United States from Napoleon and by 1808 the first Civil Code of Louisiana was enacted and re-enacted in 1825 and 1870. The present code is referred to as the Louisiana Civil Code of 1870, as revised and amended and you will hear how people say our laws are based on the Napoleonic Code. This article will touch on only a few of the laws in Louisiana which may differ from other states' laws.

 

The legal matrimonial regime is a community of acquets and gains, in other words, this is a community property state. Any property purchased while living in the State of Louisiana is considered a community asset, i.e. the husband and wife each own an undivided one-half interest. In order for the property not to be community property the husband and/or wife can either acknowledge the property is the separate asset of the acquiring spouse or record a matrimonial agreement (which states they have a regime of separate property) which was entered into before the marriage or within the first year of moving into and acquiring a domicile in this state.

 

Additionally, in Louisiana, certain persons are forced heirs, which simply means that these people must inherit when a person dies. For years the law provided that all children were the forced heirs of their parents, regardless of whether or not the parents had a Will to the contrary. In late 1995 this law was changed. Forced heirs are children and/or other descendants who, at the time of the death of the decedent, are twenty-three years of age or younger or children of any age who, because of mental incapacity or physical infirmity, are permanently incapable of taking care of themselves. If you do not have a Will, all property owned by the decedent is inherited by his descendants.

 

Lastly, Louisiana's State Constitution provides for a homestead exemption of the first $75,000.00 of value of real estate which is occupied as your principal residence. The property is generally assessed for the purchase price, if it recently sold, or its current fair market value. The homestead exemption does not apply to city taxes.

 

When moving into a new state it is always good to remember to talk with an attorney concerning the laws of the state because you may be encountering laws which are vastly different from the ones in the state you are leaving. You should have an attorney review your Will and explain the consequences of community property and matrimonial agreements.

 

Eileen Sykes is a member of the Louisiana Bar Association, a Notary Public, and is certified by the Louisiana Real Estate Commission as an instructor in pricing and valuation, contracts and legal aspects, finance and investment, and brokerage.

 
"We hope to God that this satisfies the Washington Bureaucrats!"
(A lighthearted view of Louisiana land titles)

Some decades ago, a New Orleans lawyer sought a direct Veterans Administration loan for a client. He was to provide proof of clear title to the property offered as collateral. The title for the property in question was complicated and he spent a considerable amount of time reviewing all pertinent documents back to 1803. Satisfied with the depth and expanse of his examination, he submitted the information to the V.A.

He soon received a reply from the V.A. "We received abstract of title, but you have not cleared the title before the year 1803. Therefore, it will be necessary that the title be cleared to the original owner."

Annoyed, the lawyer wrote the V.A. "Your letter regarding titles in case #9378329 received. I note that you wish titles extended further back than I have presented.

I was unaware that any educated person would not know that the United States gained clear title to Louisiana from France in 1803. This title transfer was a result of a real estate transaction known as The Louisiana Purchase.

France first gained title to all the lands drained by the Mississippi River, when claimed by De LaSalle in 1682, for his king, Louis XIV.

The French kings were ruling land reunited under Charlemagne, who was crowned Emperor by Pope Leo III

Popes are called to service by God; God created the world.

Therefore, I believe that it is safe to presume that God created title to that part of the world called Louisiana and thus was the original holder of the property in question.

Loan granted.

 

 

 

 
Featured Agent:
Morvant Dream Team
985-674-1111
Keller Williams Realty
1522 W. Causeway Approach
Mandeville, LA 70471
mailto:the.dream.team@kw.com