A right granted to a seller for the unpaid sales price is known as what?

The correct answer is the Vendor's Privilege. This is a legal right that allows a seller to retain an interest in the property until the buyer pays the full purchase price. Essentially, it serves as a security interest for the seller, ensuring that they can recover the amount owed if the buyer defaults on the payment. The Vendor's Privilege is particularly significant in Louisiana, as it is rooted in the state's civil law tradition, which emphasizes the protection of rights related to property transactions.

The concept of the Vendor's Privilege is important in situations where a buyer is unable or unwilling to complete the payment, giving the seller a means to recoup their losses by asserting their rights over the property in question. This privilege typically becomes a priority claim against the property, meaning that it takes precedence over other future liens or claims that might be placed on the property.

Other options like Mortgagor's Right and Seller's Lien reflect different legal contexts that do not specifically pertain to the right of the seller regarding an unpaid sales price in Louisiana. Mortgagor's Right refers to the rights of borrowers under a mortgage, while Seller's Lien, although similar, does not have the specific legal implications and protections granted under the Vendor's Privilege.