What is ANTICHRESIS?

In the civil law. A species of mortgage, or pledge of immovables. An agreement by which the debtor gives to the creditor the income from the property which he has pledged, in lieu of the interest on his debt. Guyot, Repert.; Marquise De Portes v. Hurlbut, 44 N. J. Eq. 517. 14 Atl. S91. A debtor may give as security for his debt any immovable which belongs to hitn, the creditor having the right to enjoy the use of It on account of the interest due, or of the capital if there is no interest due; this is called “antichresis.” Civ. Code Mex. art. 1927. By the law of Louisiana, there are two kinds of pledges,

More On This Topic




Link to This Definition

Did you find this definition of ANTICHRESIS helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary