Cap. 16 Art. 1459Right of redemption may not be reserved for a period exceeding five years.

(1) The right of redemption cannot be reserved for a period exceeding five years to be reckoned from the day of the sale.

(2) Where the right of redemption has been reserved without any limitation of time, or for a period exceeding five years, the agreement is null in regard to any time exceeding five years.

(3) The period fixed by the contract or reduced as aforesaid, is peremptory; and it runs also against minors and persons interdicted or absent.