LOU LEG Factory-Built Homes

On May 28, LOU LEG enacted bill re classification of factory homes.

  • LOU LEG approved Bill SB 63 to provide for the classification of factory-built homes.
  • Bill amends several provisions in Louisiana Revised Statutes LOU LEG 6, LOU LEG 9, LOU LEG 10, LOU LEG 22 and LOU LEG 40 related to Factory-Built home property act.
  • Bill Provisions
  • Defines factory-built home to include mobile homes, manufactured homes, modular homes, and presumes that transfers include transferor's interest in the home.
  • Clarifies that the declaration of immobilization/deimmobilization does not have to be an authentic act, must be filed in conveyance records rather than mortgage records.
  • Third party security interests not lost upon immobilization and third party agreement is required to immobilize, deimmobilization is possible in absence of third party rights.
  • Bill also makes conforming, technical changes as well as cross references.
  • Legislative History
  • On Mar. 11, 2024, bill introduced in Senate; on May 20, 2024, bill passed in Senate.
  • On Mar. 20, 2024, bill delivered to House; on May 15, 2024, bill was passed in House.
  • On May 23, 2024, bill was sent to governor; on May 28, 2024, bill signed by governor.
  • Effectiveness
  • Bill assigned Act 287 becomes effective on Aug. 1, 2024

Regulators LOU LEG
Entity Types Corp; MG Orig
Reference Act 287, Bill SB63, 5/28/2024; Citation: *LOU LEG* 6, 9, 10, 22, 40;
Functions Compliance; Financial; Legal; Record Retention
Countries United States of America
Products Corporate; Mortgage
Regions Am
Rule Type Final
Rule Date 5/28/2024
Effective Date 8/1/2024
Rule Id 214334
Linked to N/A
Reg. Last Update 5/28/2024
Report Section US Consumer

Last substantive update on 06/05/2024