Legal Question in Civil Litigation in Louisiana
what does sequestration recognizing lessor's privelege on moveables mean
what does sequestration recognizing lessor's privelege on moveables mean
Asked on 7/10/04, 10:46 pm
1 Answer from Attorneys
Steve LeBlanc
Steve LeBlanc, Ltd., (APLC)
Re: what does sequestration recognizing lessor's privelege on moveables mean
A sequestration is when the sheriff takes possession of the lessee's property under a court order; and, usually, will turn it over to the lessor for safe keeping until the sheriff's sale. A lessor has a lien, or privilage, which is like a mortgage on the property of the lessee in or on the leased premises.
Answered on 7/11/04, 10:06 am