Persons holding property in common may agree that there shall not be a partition of the property held in common for a specific period of time, not to exceed fifteen years; however, persons holding in common an electric generating plant or unit, or the site of such plant or unit, located in this state may agree that such plant or unit or site shall not be partitioned for a period of time not to exceed ninety-nine years. Any agreement under the provisions of this Section shall be in writing and shall be valid irrespective of the provisions of Civil Code Article 807.
La. R.S. 9:1702
Agreement not to partition by persons holding property in common
Known as the Louisiana Uniform Transfer on Death Security Registration Act
The act spans §§ 9–9 (12 sections).
Acts 1991, No. 349, §2; Acts 2010, No. 221, §1.
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.