Art. 2702.Rights of Third Person Who Has Acquired Property and Assumed Indebtedness

Article 2702 addresses a buyer who did more than take mortgaged property off the original debtor's hands -- this buyer also assumed the debt the mortgage or privilege secures, agreeing to pay it as part of the purchase. Once the creditor seizes that property under executory process and a sale is imminent, this buyer has a direct stake in stopping or resolving the seizure, even though the buyer, not the original debtor, now owns and possesses the collateral.

The article gives that buyer two paths. The first is to pay what is owed -- the balance due in principal, interest, attorney's fees, and costs -- which satisfies the debt and ends the creditor's basis for pursuing the sale. The second is to arrest the seizure and sale by injunction, but only on one of the grounds Article 2751 recognizes: that the debt is extinguished, that it is legally unenforceable, or that the executory proceeding did not follow the procedure the law requires.

Because this buyer assumed the debt, Article 2702 does not add any assumption-specific ground beyond what Article 2751 already allows every defendant in an executory proceeding. That is narrower than the options Article 2703 gives a buyer who took the property subject to the mortgage without assuming the debt personally, who can also challenge an unrecorded mortgage or a lapsed recordation.