What is the term for the right granted to a seller for the unpaid sales price?

The term "Vendor's privilege" refers to the legal right that a seller has to retain possession of the property until the purchase price has been paid in full. This right serves as a form of security for the seller, ensuring that they can recover the debt owed to them in a sale transaction. This privilege is particularly significant in Louisiana, where it is recognized under the state's civil code and allows sellers to enforce their interest in the property if the buyer defaults on payment. The vendor's privilege operates similarly to a lien but is specific to sellers, distinguishing it from other types of liens that may pertain to different obligations.

The other options, while related to liens and rights regarding property, do not specifically pertain to the seller's rights in the context of unpaid sales prices in the same way that the vendor's privilege does. The buyer's privilege does not exist in this context, and a seller's lien, though it might suggest a form of security, is not the term typically used in Louisiana law. An equitable lien also provides a right to the property under different circumstances, typically in cases where there’s an express agreement, but it does not specifically relate to the seller's right for unpaid sales price in a transaction.