ARTICHRESIS

ARTICHRES
IS
Article 2132-2139
What is a contract of
antichresis?
Article 2132. By 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.
Characteristics of Antichresis
1. Accessory contract
2. Formal contract
3. Consensual Contract
Antichresis vs. Real Mortgage
Antichresis Real Mortgage
Real property is delivered to the creditor. Debtor usually retains possession of the real property.
Creditor acquires only the right to receive the fruits of Creditor does not have any right to receive the fruits.
the property.
The creditor is obliged to pay the taxes and charges The creditor has no such obligation.
upon the estate unless there is stipulation to the
contrary.
It is expressly stipulated that the creditor who is given There is no such obligation of the mortgagee.
the possession of the property shall apply all the fruits
thereof to the payment of interest, if owing, and
thereafter to the principal.
Rights of antichretic creditor
1. The right to the fruits of the thing;

2. The right to retain the thing until the debt is paid; and
3. The right to have the thing sold upon non-payment at maturity.
Article 2133. The actual market value of the
fruits at the time of the application thereof
to the interest and principal shall be the
measure of such application.
Article 2134. The amount of the
principal and of the interest shall be
specified in writing; otherwise, the
contract of antichresis shall be void.
Article 2135. The creditor, unless there is a
stipulation to the contrary, is obliged to pay the
taxes and charges upon the estate.
He is also bound to bear the expenses necessary
for its preservation and repair.
The sums spent for the purposes stated in this
article shall be deducted from the fruits.
Obligations of the antichretic creditor
1. To pay the taxes and charges upon the estate, unless there is a
stipulation to the contrary;
2. To bear the expenses necessary for preservation and repair;
3. To apply all the fruits, after receiving them, to the payment of interest,
if owing, and thereafter to the principal; and
4. To render an account of the fruits to the debtor.
Article 2136. The debtor cannot reacquire the enjoyment of the
immovable without first having totally paid what he owes the
creditor.
But the latter, in order to exempt himself from the obligations
imposed upon him by the preceding article, may always compel the
debtor to enter again upon the enjoyment of the property, except
when there is a stipulation to the contrary.
 Obligation of the debtor
To pay totally what he owes the creditor.

Article 2137. The creditor does not acquire the
ownership of the real estate for non-payment of the
debt within the period agreed upon.
Every stipulation to the contrary shall be void.
But the creditor may petition the court for the
payment of the debt or the sale of the real property.
In this case, the Rules of Court on the foreclosure of
mortgages shall apply.
Remedies of the creditor
1. The creditor may petition the court for the
payment of the debt; or
2. The creditor may petition the court for the
sale of the real property.
Article 2138. The contracting parties may stipulate
that the interest upon the debt be compensated with
the fruits of the property which is the object of the
antichresis, provided that if the value of the fruits
should exceed the amount of interest allowed by the
laws against usury, the excess shall be applied to the
principal.
Article 2139. The last paragraph of article
2085, and articles 2089 to 2091 are applicable
to this contract.
Article 2085. The following requisites are essential to the contracts of
pledge and mortgage:
(1) That they be constituted to secure the fulfillment of a principal
obligation;
(2) That the pledgor or mortgagor be the absolute owner of the thing
pledged or mortgaged;
(3) That the persons constituting the pledge or mortgage have the free
disposal of their property, and in the absence thereof, that they be
legally authorized for the purpose.
Third persons who are not parties to the principal obligation may
secure the latter by pledging or mortgaging their own property.

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ARTICHRES

1. The right to the fruits of the thing;

To pay totally what he owes the creditor.

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