Finance
In Louisiana, a 'purchase money mortgage' is distinguished from other mortgages because it:
AIs always insured by the government
BIs given to the seller (or third party) to finance the purchase price of the property being acquired✓ Correct
CHas a lower interest rate by law
DIs not recorded in the public records
Explanation
A purchase money mortgage is one given by the buyer to the seller (or to a third-party lender) as part of the purchase price consideration. It may have special priority in Louisiana for the unpaid portion of the purchase price.
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