RS 41:1323.3

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RS 41:1323.3

§1323.3. Sixteenth section sales made through July 1, 1956; Act of 1964

A. All sales of sixteenth section school lands in the State of Louisiana made through the first day of July, 1956, are hereby ratified and confirmed notwithstanding informalities in said sales; provided that the parish treasurer or other officer making the sale executed a deed to the purchaser which deed, or the record thereof, shall be full proof that such sales were made in compliance with all the requirements and provisions of laws existing at the time such sales were made; and providing further that where the deed recites that the transfer or sale was made for a cash consideration, such recital shall be full proof that the entire consideration was properly paid; and where the deed recites that the sale was made for part cash and the balance on terms of credit, said recital shall be full proof that the cash portion of the purchase price was properly paid, and if the mortgage records of the parish wherein the property is situated show a cancellation of the mortgage securing the credit portion of the purchase price, such cancellation shall be full proof that the credit portion of the purchase price has been paid; and provided further that if the mortgage records of the parish wherein the property is situated do not show a cancellation of the mortgage securing the credit portion of the purchase price, and no action or suit has been brought and prosecuted to a conclusion to foreclose the mortgage securing the credit portion of the purchase price or to have the sale rescinded, annulled or set aside, it shall be presumed that the credit portion of the purchase price has been fully paid.

B. All informalities and defects in such sales, subject to the above provisions, are hereby cured.

Acts 1960, No. 264, §§1, 2. Amended by Acts 1964, No. 184, §1.