Q: Is the agreement between spouses Al and Paz and Ama a contract of antichresis?
A: It bears to note that whether the agreement of the spouses and Ama is one of antichresis, the same is totally irrelevant since the issue of the case that was filed by the spouses refer to the validity of the documents that caused the subsequent transfers of the property involved.
Be that as it may, the contract of antichresis the creditor acquires the right to receive the fruits of an immovable of his debtor, with the obligation to apply them to the payment of the interest, if owing, and thereafter to the principal of his credit.
Thus, antichresis involves an express agreement between parties such that the creditor will have possession of the debtor's real property given as security, and such creditor will apply the fruits of the property to the interest owed by the debtor, if any, then to the principal amount.
Antichresis requires delivery of the property to the antichretic creditor, but the latter cannot ordinarily acquire this immovable property in his or her possession by prescription.
Contracts of pledge, antichresis
and hypothec shall state, on pain of inefficacy: I--the amount of the debt, its estimated amount, or its maximum amount; II--the term fixed for payment; III--the interest rate, if any; IV--the property given as security, with its specifications."
The Brazilian Civil Code provides that in the case of debts guaranteed by a security interest, antichresis or mortgage, the property given as a security remains subject and related to the payment of the obligation and that the secured debt has preference over any personal debt.
Article 755 of the Brazilian Civil Code stipulates that the property given to guarantee debts secured by a security interest, antichresis or mortgage is inextricably linked to the payment of the underlying debt.
His training for the priesthood was conducted in antiquated language and concepts - wanting to impress his friend Baillie he listed his present occupation as: 'Emphyteusis, laud-emium, mohatra, antichresis
, hypotheca, servitus activa et passiva.'
In verbis: "The civil law systems recognize many types of split ownership, joint ownership, servitudes, usufruct, usus, habitation, pledge, mortgage, antichresis
, lease, and emphyteusis, and modern French Law permits the substantial equivalente of almost every type of future interest known to the common laW (Property and trust: trust.