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7 Cards in this Set
- Front
- Back
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Co-ownership |
Undivided fractional interest of ownership, not necessarily in equal proportions. |
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Matrimonial Regime |
A system of principals and rules governing the ownership and management of the property of married person or between themselves and toward third parties. |
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Separate Property |
Property owned by a married person that is not community property; includes property acquired before the marriage or by gift or inheritance after marriage. |
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Partnership |
A contract between two or more persons to carry on as co-owners of a business and to share the profits in certain proportions. |
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Condominium |
Property developed for common interest ownership, where each co-owner has a separate interest in an individual unit, combined with an individual interest in the common elements of the property. |
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Corporations |
1. Created by written contract. 2. Legal person separate from shareholders who are not liable for the liabilities. 3. May own, encumber and dispose of real and personal property |
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Townhouses |
No specific law of townhouses in La. We call these attached houses. |
