United States Safe Deposit & Savings Bank v. Barrett

Citations

• 10 Teiss. 159
• 1913 La. App. LEXIS 32

Syllabus

<p>Syllabus.</p> <p>1. An authentic act of sale of real property, duly registered in the Conveyance Office, wherein the purchaser,' acknowledging possession, grants the right to redeem within a specified time upon the repayment of the price with interest from the date of sale, is on its face, under our jurisprudence, a valid sale with right of redemption, and not a mortgage, pledge or other pignorative contract.</p> <p>2. Where an authentic act constituting on its face a valid sale with right of redemption is duly placed of record as such and the delay for redemption has passed without there being any evidence of record showing that the right of redemption has been exercised within the delay fixed or has been renewed or extended, a third person who has acted-upon the faith of the record will be protected from an attack on the title by the apparent vendor (in the sale with right of redemption) on the ground that the act in question was in reality only an act ¡of mortgage or other security securing a specific debt to the apparent .vendee.</p> <p>3. A third person, relying upon the record, is not put upon inquiry by knowledge of the fact alone that the husband is purchasing property which belonged to the wife several years before.</p> <p>4. Positive proof and not mere inference is required to overcome the effect of the recitals of recorded authentic acts upon the truth of which third persons have a right to rely.</p>