antichresis

antichresis (an-ti-kree-sis). [Latin “in place of interest”] Roman & civil law. A mortgage in which the mortgagee retains possession of the mortgaged property and takes the fruits (such as rents) of the property in lieu of interest on the debt. La. Civ. Code art. 3176. [Cases: Mortgages

1. C.J.S. Mortgages §§ 2–6.]

“Under the Civil Code of Louisiana, taken from the Code Napoleon, there are two kinds of pledges: the pawn, when a movable is given as security, and the antichresis, when the security given consists in immovables or real estate. Under the latter the creditor acquires the right to take the rents and profits of the land, and to credit, annually, the same to the interest, and the surplus to the principal of the debt, and is bound to keep the estate in repair, and to pay the taxes. Upon default upon the part of the debtor, the creditor may prosecute the debtor, and obtain a decree for selling the land pledged.” 3 James Kent, Commentaries on American Law *403–04 (George Comstock ed., 11th ed. 1866).

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法律翻译Cathy，在一家英国银圈所担任专职法律翻译，擅长翻译有关城市基础设施领域的法律文件。