Art. 2374.  Property subject to superior mortgage; payment of price

If there is a security interest, mortgage, lien, or privilege on the property superior to that of the seizing creditor, the purchaser shall pay to the sheriff only that portion of the sale price which exceeds the amount of the superior security interest, mortgage, lien, or privilege.

Acts 1989, No. 137, §18, eff. Sept.  1, 1989.