Legislation
State: Louisiana
Signed: June 27, 2023
Effective: August 01, 2023
Chapter: Act No. 464
Summary
House Bill 537 prohibits the purchase, lease, or otherwise acquisition of immovable property by foreign adversaries or persons connected with a foreign adversary, but creates protections for Notaries Public involved in such transactions.
Affects
Adds Section 2717.1 to Title 9 of the Louisiana Revised Statutes.
Changes
- Prohibits the purchase, lease, or otherwise acquisition of immovable property by foreign adversaries or persons connected with a foreign adversary.
- Clarifies that a Notary Public does not have a duty to make any investigation as to whether a party to a transaction involving immovable property is a foreign adversary, nor shall the Notary be liable for failing to identify that a party to a transaction involving immovable property is a foreign adversary.
AnalysisHouse Bill 537 prohibits the purchase, lease, or otherwise acquisition of immovable property by foreign adversaries or persons connected with a foreign adversary. That said, the bill states a Notary does not have a duty to investigate whether a party in a transaction involving immovable property is a foreign adversary and is not liable for failing to identify that the party is a foreign adversary.
Read House Bill 537.