Definition of HYPOTHEQUE


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HYPOTHEQUE

French law. Properly, the right acquired by the
creditor over
the immovable property which has been assigned to him by his debtor, as
security for his debt, although he be not placed in possession of it. The
hypotheque might arise in two was. 1. By the express agreement of the
debtor, which was the conventional hypotheque. 2. By disposition of law,
which was the implied or Iegal hypotheque. This was nothing but a lien or
privilege which the creditor enjoyed of being first paid out of the land
subjected to this incumbrance. For example, the landlord had hypotheque on
the goods of his tenant or others, while on the premises let. A mason had
the same on the house he built. A pupil or a minor on the land of his tutor
or curator, who had received his money. Domat, Loix Civiles, 1. 3, & 1; 2
Bouv. Inst. 1817.


Source: Bouviers Law Dictionary 1856 Edition



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