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]