CC 2562 - Dissolution of sale of immovables for nonpayment of price; extension of time for payment - Louisiana Statutes

Art. 2562. Dissolution of sale of immovables for nonpayment of price; extension of time for payment

When an action is brought for the dissolution of the sale of an immovable and there is no danger that the seller may lose the price and the thing, the court, according to the circumstances, may grant the buyer an extension of time, not in excess of sixty days, to make payment, and shall pronounce the sale dissolved if the buyer fails to pay within that time. When there is such a danger, the court may not grant the buyer an extension of time for payment.

Acts 1993, No. 841, §1, eff. Jan. 1, 1995.