meaning of ANTICHRESIS

ANTICHRESIS meaning in Law Dictionary

in civil-law. A species of mortgage, or pledge of immovables. An understanding where the debtor offers to the creditor the earnings through the residential property which he has pledged, in place of the interest on their debt. Guyot, Repert.; Marquise De Portes v. Hurlbut, 44 N. J. Eq. 517. 14 Atl. S91. A debtor can provide since safety for his debt any immovable which belongs to hitn, the creditor getting the right to take pleasure in the using It due to the attention due, or associated with the money when there is no interest due; this really is known as "antichresis." Civ. Code Mex. art. 1927. By the legislation of Louisiana, there are two main types of pledges,