Louisiana Red Cypress Co. v. Rabalais

This case presents a contest between two conventional mortgage creditors over the proceeds of the sale of the homestead of their common debtor.

The plaintiff held the ranking mortgage in point of registry, but the mortgage did not contain a homestead waiver.

The second mortgage was in favor of the People’s Bank & Trust Company and contained a special waiver of the homestead.

The homestead consisted of a lot in the town of Geydan, with the buildings and improvements thereon. It was occupied by the debtor and his -family at the time each mortgage was executed and at the time the property was…