Lawyers Title Insurance Corp. v. Valteau

WARD, Judge.

The issue in this appeal is whether a vendor’s privilege on immovable property has preferential ranking over a previously recorded judicial mortgage recorded against the vendee of the property.

By an act entitled “Vendor's Lien” dated April 30, 1985 Robert L. Lucien sold immovable property in New Orleans to Joy Price, wife of/and Paul V. Spooner. The purchase price was $60,000.00, and Mr. and Mrs. Spooner gave Lucien a promissory note for $59,685.00 for the unpaid portion. The act recites that Lucien reserved and assigned the vendor’s privilege and note to Mellon Financial Services…