What Is Antichresis Philippines?
In the Civil Law, an Antichresis Is a Contract for Security Between the Debtor and His Creditor; a Transfer of Possession of the Pledged Real Property from the...
In the civil law, an antichresis is a contract for security between the debtor and his creditor; a transfer of possession of the pledged real property from the debtor to the creditor, including the the fruits or rent income therefrom, in lieu of payments on the loan, including interest, for any such time period as is ...
What is antichresis and example?
In civil law antichresis is a contract whereby a person borrowing money of another, hands over his property to the creditor, allowing the use and occupation thereof, for the interest on the money lent. Historically, this contract was used by the Romans, among whom usury was prohibited.
What is the purpose of antichresis?
Antichresis, under civil law and Roman law, is a contract whereby a debtor pledges (i.e., conveys possession of but not title to) real property to a creditor, allowing the use and occupation of the pledged property, in lieu of interest on the loan.
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