DATION EN PAIEMENT

dation  en  paiement  (day-sh<<schwa>>n  in  pay-m<<schwa>>nt  or  da-syon  ahn  pay-mon),

n.[French  “a  giving  in  payment”]  Civil  law.  1.  An  exchange  of  something  instead  of  money  to

satisfy a debt. See ACCORD AND SATISFACTION. [Cases: Accord and Satisfaction    13. C.J.S.

Accord and Satisfaction §§ 25–27, 29.] 2.Louisiana law. A contract in which the obligor gives a

thing  to  the  obligee,  who  accepts it in  payment  of  a  debt.  La.  Civ.  Code  art. 2655.  • Dation  en

paiement requires court approval after petition and notice. 3. A  method  of satisfying a  mortgage

debt by transferring the mortgaged property when the mortgage exceeds the property’s value and

the mortgage-holder is willing to accept the property in satisfaction of the debt. [Cases: Mortgages

304. C.J.S. Mortgages §§ 451, 475.] [Blacks Law 8th]