Act of Sale with Limited Warranty - Louisiana

IMPORTANT LEGAL NOTICE
Louisiana operates under a CIVIL LAW system derived from French and Spanish law, NOT common law. Real estate transfers are accomplished through "Acts of Sale" rather than deeds. This Act of Sale with Limited Warranty provides LIMITED warranty protection - the Vendor warrants only against claims arising from Vendor's acts or omissions. The Authentic Act form requires execution before a notary public and two witnesses (La. C.C. Art. 1833). Louisiana is a "race" recording state - the first to record has priority. Obtain title insurance for complete protection.

ACT OF SALE WITH LIMITED WARRANTY

(Cash Sale - Acte de Vente)

State of Louisiana

RECORDING INFORMATION

After Recording Return To:

Name: ________________________________________
Address: _____________________________________
City, State, ZIP: _____________________________

Notary Public Information:

Name: ________________________________________
Notary ID / Bar Roll No.: ____________________
Parish of Commission: ________________________
Address: _____________________________________

PROPERTY INFORMATION

DOCUMENTARY TAX (Orleans Parish Only)

Note: Only Orleans Parish imposes a documentary transaction tax on real estate conveyances. Other parishes do not have this tax.

PARTIES

VENDOR (Seller):

Name: [VENDOR FULL LEGAL NAME]

Mailing Address: [FULL ADDRESS]

Marital Status:
☐ Single, never married
☐ Married to [SPOUSE NAME]
☐ Widow/Widower of [DECEASED SPOUSE NAME]
☐ Divorced (previously married to [EX-SPOUSE NAME])

Change in Marital Status Since Acquisition:
☐ No change in marital status since acquisition of property
☐ Marital status has changed since acquisition (explain): _______________________

Entity Type (if applicable):
☐ A Louisiana limited liability company
☐ A Louisiana corporation
☐ A [State] limited liability company registered in Louisiana
☐ A [State] corporation registered in Louisiana
☐ Trustee of [Trust Name]

VENDEE / PURCHASER (Buyer):

Name: [VENDEE FULL LEGAL NAME]

Mailing Address: [FULL ADDRESS]

Marital Status:
☐ Single, never married
☐ Married to [SPOUSE NAME]
☐ Widow/Widower of [DECEASED SPOUSE NAME]
☐ Divorced

Manner of Holding Title:
☐ As separate property
☐ As community property (married couples)
☐ As co-owners in indivision (____% and ____%)
☐ As a Louisiana limited liability company
☐ As a Louisiana corporation
☐ As Trustee of [Trust Name]

AUTHENTIC ACT OF SALE

Appearance and Recitals

UNITED STATES OF AMERICA
STATE OF LOUISIANA
PARISH OF [PARISH NAME]

BE IT KNOWN, that on this _____ day of _________________, 20_____, before me, the undersigned Notary Public, duly commissioned and qualified in and for the Parish of [PARISH], State of Louisiana, and in the presence of the undersigned competent witnesses,

PERSONALLY CAME AND APPEARED:

[VENDOR NAME], of the full age of majority, domiciled in [PARISH/COUNTY], [STATE], appearing herein as VENDOR,

who declared that for and in consideration of the price and sum of [WRITTEN AMOUNT] AND NO/100 DOLLARS ($[NUMERIC]), cash in hand paid, and other good and valuable consideration, receipt of which is hereby acknowledged, Vendor does by these presents GRANT, BARGAIN, SELL, CONVEY, TRANSFER, ASSIGN, SET OVER, ABANDON, AND DELIVER WITH LIMITED WARRANTY OF TITLE unto:

[VENDEE NAME], of the full age of majority, domiciled in [PARISH/COUNTY], [STATE], appearing herein as VENDEE / PURCHASER,

the following described property situated in the Parish of [PARISH], State of Louisiana, to-wit:

See Exhibit A attached hereto and made a part hereof (the "Property")

Property Conveyed

TOGETHER with all the buildings and improvements thereon, and all the rights, ways, privileges, servitudes, appurtenances, and advantages thereunto belonging or in anywise appertaining, including but not limited to:

☐ All improvements, buildings, structures, and component parts
☐ All servitudes (easements) appurtenant to the Property
☐ All rights in streets, alleys, and ways adjoining the Property
☐ All mineral rights (unless reserved below)
☐ All timber rights
☐ All water rights

LIMITED WARRANTY OF TITLE

Nature of Limited Warranty

Vendor hereby warrants and defends the title to the Property conveyed against all persons claiming by, through, or under Vendor, but against none other.

Specific Warranties by Vendor

Vendor warrants only the following:

1. Ownership: That Vendor is the true and lawful owner of the Property and has good right to sell and convey the same;

2. No Encumbrances by Vendor: That the Property is free from all liens, mortgages, privileges, and encumbrances made or suffered by Vendor, except as herein stated;

3. Defense Against Vendor's Acts: That Vendor will defend the title to the Property against all lawful claims arising from Vendor's acts or omissions;

4. Authority: That Vendor has full power and authority to convey the Property.

Scope of Limited Warranty

THIS IS AN ACT OF SALE WITH LIMITED WARRANTY. The warranties herein are LIMITED to defects arising from Vendor's own acts, omissions, or encumbrances.

Vendor does NOT warrant against:

☐ Claims arising before Vendor acquired title
☐ Defects or encumbrances created by prior owners
☐ Claims by parties not claiming through Vendor
☐ Matters of public record prior to Vendor's acquisition
☐ Any vices or defects of title not attributable to Vendor's acts

Louisiana Civil Code Reference

Under Louisiana Civil Code Article 2475, a seller is bound to warrant the buyer's ownership and peaceful possession of the thing sold, and Articles 2500-2503 implant a full warranty against eviction (loss of the property, in whole or in part, due to a third person's pre-existing right) in every sale. Article 2503 expressly permits the parties to increase, limit, or exclude the warranty by agreement. This Act of Sale exercises that right by LIMITING the warranty to claims arising from Vendor's own acts, omissions, or encumbrances, in lieu of the full statutory warranty against eviction. Vendee accepts this limited warranty in lieu of full warranty.

EXCEPTIONS AND RESERVATIONS

This sale is made and accepted SUBJECT TO:

Standard Exceptions

☐ All taxes and assessments for the current year and subsequent years
☐ All zoning ordinances and building restrictions
☐ All recorded servitudes (easements), rights-of-way, and restrictions
☐ All apparent servitudes
☐ Any state of facts an accurate survey would show
☐ Rights of tenants in possession, if any

Specific Exceptions

1. [SPECIFIC EXCEPTION]
   Recorded at COB _____, Folio _____, [PARISH] Parish Records

2. [SPECIFIC EXCEPTION]
   Recorded at COB _____, Folio _____, [PARISH] Parish Records

3. [SPECIFIC EXCEPTION]
   Recorded at COB _____, Folio _____, [PARISH] Parish Records

☐ See Exhibit B for additional exceptions

Mineral Reservation (if applicable)

☐ All mineral rights conveyed with sale
☐ Vendor reserves the following mineral rights: _________________________________

VENDOR REPRESENTATIONS

Authority and Capacity

☐ Vendor has full power and legal capacity to execute this Act of Sale
☐ If entity: Vendor is duly organized and in good standing under Louisiana law
☐ If entity: This sale has been duly authorized by all necessary action

Marital Property Disclosure (La. C.C. Art. 3352)

☐ The Property is Vendor's separate property
☐ The Property is community property and spouse is joining in this sale
☐ The Property was acquired while Vendor was unmarried

FIRPTA Compliance

☐ Vendor is not a "foreign person" under 26 U.S.C. § 1445(f)(3); any separate nonforeign affidavit or qualified-substitute statement will be handled at closing
☐ Vendor is a "foreign person"; the closing parties will determine the applicable withholding rate, exemption, qualifying statement, or reduced-withholding procedure under 26 U.S.C. § 1445

DECLARATION OF ACQUISITION

Vendee declares acceptance of this sale and acquisition of the Property with all warranties, servitudes, charges, and conditions herein expressed.

AUTHENTIC ACT EXECUTION

Notarial Execution (La. C.C. Art. 1833)

THUS DONE AND PASSED in my office in the City of [CITY], Parish of [PARISH], State of Louisiana, on the day, month, and year first above written, in the presence of the undersigned competent witnesses, who hereunto sign their names with the Vendor, Vendee, and me, Notary, after due reading of the whole.

VENDOR SIGNATURE(S)

________________________________________
[VENDOR NAME] (Vendor)
Printed Name: ___________________________

________________________________________
[SPOUSE NAME] (Spouse of Vendor, if applicable)
Printed Name: ___________________________

Entity Vendor:

[ENTITY NAME]

By: ____________________________________
    [NAME], [TITLE]
Printed Name: ___________________________

VENDEE / PURCHASER SIGNATURE(S)

________________________________________
[VENDEE NAME] (Vendee/Purchaser)
Printed Name: ___________________________

________________________________________
[SPOUSE NAME] (Spouse of Vendee, if applicable)
Printed Name: ___________________________

WITNESSES (REQUIRED - Two Witnesses per La. C.C. Art. 1833)

IMPORTANT: An Authentic Act in Louisiana REQUIRES two competent witnesses who are not parties to the act.

WITNESS 1:
________________________________________
Printed Name: ___________________________

WITNESS 2:
________________________________________
Printed Name: ___________________________

NOTARY PUBLIC

________________________________________
NOTARY PUBLIC
[NOTARY NAME - Typed or Printed]
Notary Public ID No. / Bar Roll No.: __________
Parish of Commission: _______________________
My Commission: ☐ Issued for Life ☐ Expires: ________

[NOTARIAL SEAL]

EXHIBIT A - LEGAL DESCRIPTION

Municipal Address:
[STREET ADDRESS]
[CITY], Louisiana [ZIP]

Parish: [PARISH]

Tax Assessment Number: [NUMBER]

Legal Description:

[INSERT COMPLETE LEGAL DESCRIPTION]

Example formats:

Lot and Square/Block:
A certain lot or portion of ground, together with all the buildings and improvements thereon, situated in the [CITY/PARISH] of [NAME], Parish of [PARISH], State of Louisiana, in [SQUARE/BLOCK NO.], bounded by [STREETS], and designated as Lot _____ on a plan of [SUBDIVISION NAME] by [SURVEYOR NAME], dated [DATE], and deposited in the office of [NOTARY/RECORDER] on [DATE], measuring [DIMENSIONS].

Metes and Bounds:
A certain tract or parcel of land, together with all the buildings and improvements thereon, situated in [SECTION/TOWNSHIP/RANGE DESCRIPTION], Parish of [PARISH], State of Louisiana, containing _____ acres, more or less, and being more particularly described as follows: [METES AND BOUNDS]

Being the same property acquired by Vendor from [PRIOR OWNER] by act of [sale/donation/succession] passed before [NOTARY NAME], Notary Public, dated [DATE], registered at COB _____, Folio _____, [PARISH] Parish Records.

EXHIBIT B - SPECIFIC EXCEPTIONS (If Applicable)

[List all encumbrances that will remain after closing]

1. ________________________________________________________________
   (COB _____, Folio _____)

2. ________________________________________________________________
   (COB _____, Folio _____)

LOUISIANA RECORDING REQUIREMENTS

Filing Information

• Filing Office: Clerk of Court / Recorder of Mortgages, [PARISH] Parish (Notarial Archives / Register of Conveyances if Orleans Parish)
• Recording Deadline: Within 15 days after passage of the act if the Property is located outside Orleans Parish; within 48 hours after passage of the act if the Property is located in Orleans Parish (La. R.S. 35:199)
• Documentary Tax: Orleans Parish only

Recording Priority

Louisiana follows the Public Records Doctrine (La. Civ. Code art. 3338): an instrument transferring an immovable, or otherwise creating a real right in it, has no effect against third persons until it is recorded. Louisiana is generally characterized as a "RACE" recording jurisdiction — as between competing recorded interests, the person who records first has priority, and an unrecorded interest is without effect against third persons regardless of their actual knowledge of it. This differs from "notice" and "race-notice" recording statutes used in most common-law states.

Document Requirements (La. C.C. Art. 1833, Art. 3352)

☐ Authentic Act form (Notary + Two Witnesses)
☐ Full names of all parties
☐ Mailing addresses of all parties
☐ Marital status of all individuals
☐ Change in marital status since title acquisition
☐ Property municipal address
☐ Notary's ID number or bar roll number
☐ Notary's typed or printed name beneath signature
☐ Typed or printed names beneath all signatures

Authentic Act Requirements (La. C.C. Art. 1833)

An authentic act must be:

• Executed before a notary public or authorized officer
• In the presence of two witnesses
• Signed by each party, each witness, and the notary
• Names typed or printed legibly beneath signatures

Statutory References

• La. C.C. Art. 1833 - Requirements of authentic acts
• La. C.C. Art. 2475 - Seller's obligation to warrant ownership and peaceful possession
• La. C.C. Arts. 2500-2513 - Warranty against eviction (definition, scope, and modification/exclusion)
• La. C.C. Art. 3338 - Public records doctrine; recordation required to affect third persons
• La. C.C. Art. 3352 - Requirements for recorded acts
• La. R.S. 35:11 - Marital status of parties to be given
• La. R.S. 35:199 - Recording deadline (15 days outside Orleans Parish; 48 hours within Orleans Parish)

TITLE INSURANCE NOTICE

IMPORTANT: Because this Act of Sale contains a LIMITED WARRANTY, Vendee is STRONGLY ADVISED to obtain an owner's policy of title insurance from a licensed title insurance company. Title insurance will protect against defects from prior owners that are not covered by this limited warranty.

☐ Vendee acknowledges receipt of this recommendation

END OF ACT OF SALE WITH LIMITED WARRANTY

Louisiana Civil Code; Louisiana Revised Statutes Title 35