antichresis
- Antichresis is a legal agreement in which a debtor transfers possession of an immovable property to a creditor. This permits the creditor to claim any benefits, such as rents, from the property, which can then be applied to reduce the interest or principal of the outstanding debt
- Because of my unpaid debts, the bank and I entered into an antichresis agreement, allowing them to collect rents from my apartment complex.
- Antichresis can be an option to explore when a debtor owns property but cannot afford the repayment of their debt right away.
- Utilizing antichresis, creditors have the right to take over and benefit from a debtor's property until the debt is paid.
Provide Feedback
