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    Antichresis: Antichresis Is A Contract

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    Kersy Mere Fajardo
    Antichresis is a contract where a creditor acquires the right to receive the fruits of a debtor's immovable property, with the obligation to apply the fruits to interest payments and then principal on the debt. The creditor must deliver possession of the property, pay taxes and charges, and apply any fruits received to the outstanding interest and principal. If the debt is not paid, the creditor can seek specific performance or petition for the sale of the property through foreclosure.

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    Antichresis: Antichresis Is A Contract

    Uploaded by

    Kersy Mere Fajardo
    17 views1 page
    Antichresis is a contract where a creditor acquires the right to receive the fruits of a debtor's immovable property, with the obligation to apply the fruits to interest payments and then principal on the debt. The creditor must deliver possession of the property, pay taxes and charges, and apply any fruits received to the outstanding interest and principal. If the debt is not paid, the creditor can seek specific performance or petition for the sale of the property through foreclosure.

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    Antichresis is a contract where a creditor acquires the right to receive the fruits of a debtor's immovable property, with the obligation to apply the fruits to interest payments and then principal on the debt. The creditor must deliver possession of the property, pay taxes and charges, and apply any fruits received to the outstanding interest and principal. If the debt is not paid, the creditor can seek specific performance or petition for the sale of the property through foreclosure.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    17 views1 page

    Antichresis: Antichresis Is A Contract

    Uploaded by

    Kersy Mere Fajardo
    Antichresis is a contract where a creditor acquires the right to receive the fruits of a debtor's immovable property, with the obligation to apply the fruits to interest payments and then principal on the debt. The creditor must deliver possession of the property, pay taxes and charges, and apply any fruits received to the outstanding interest and principal. If the debt is not paid, the creditor can seek specific performance or petition for the sale of the property through foreclosure.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 1

    7. ANTICHRESIS 3.

    To render an account of the


    fruits to the debtor
    Antichresis is a contract 4. To bear the expenses necessary
    whereby the creditor acquires the for its preservation and
    right to receive the fruits of an repair
    immovable of the debtor, with the REMEDIES OF CREDITOR IN CASE OF
    obligation to apply then to the NON-PAYMENT OF DEBT
    payment of the interest, if owing, 1. Action for specific
    and thereafter to the principal of performance
    the credit 2. Petition for the sale of the
    CHARACTERISTICS real property as in a
    1. Accessory contract – it foreclosure of mortgage under
    secures the performance of Rule 68 of the Rules of
    a principal obligation Court.
    2. Formal contract – it must i. The parties, however, may
    be in a specified form to agree on an extrajudicial
    be valid foreclosure in the same manner as
    SPECIAL REQUISITES: they are allowed in contracts of
    1. It can cover only the mortgage and pledge
    fruits of an immovable ii. A stipulation authorizing the
    property antichretic creditor to appropriate
    2. Delivery of the immovable the property upon the non-payment
    is necessary for the of the debt within the agreed
    creditor to receive the period is void.
    fruits, not to make the
    contract binding
    3. Amount of principal and
    interest must be specified
    in writing
    4. Express agreement that
    debtor will give
    possession of the property
    to creditor and that the
    latter will apply the
    fruits to the interest, if
    any, then to the principal
    of his credit
    The obligation to pay interest
    is not the essence of the contract
    of antichresis; there being nothing
    in the Code to show that
    antichresis is only applicable to
    securing the payment of interest
    bearing loans. On the contrary,
    antichresis is susceptible of
    guaranteeing all kinds of
    obligations, pure or conditional

    OBLIGATIONS OF ANTICHRETIC CREDITOR


    1. To pay taxes and charges on
    the estate, including
    necessary expenses. Creditor
    may avoid said obligation by:
    a. compelling the debtor to
    reacquire enjoyment of the
    property
    b. by stipulation to the
    contrary
    2. To apply all the fruits, after
    receiving them, to the payment
    of interest, if owing, and
    thereafter to the principal

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