ANTICHRESIS Meaning and
Definition
-
Antichresis is a legal term primarily used in property law. It refers to a specific type of contract or arrangement in which a creditor or lender is given temporary possession and use of a debtor’s property in lieu of interest payments or other obligations owed.
In antichresis, the debtor grants the creditor the right to use and occupy the property rented or mortgaged by the debtor, typically for a specific period of time. During this time, the creditor is entitled to receive and retain the profits or benefits derived from the use of the property. These profits are then credited towards the debt owed by the debtor, acting as a form of interest payment.
Antichresis can be seen as an alternative to traditional interest-based financial arrangements. It provides a means for the borrower to repay the debt by allowing the creditor to generate income from the property while avoiding the charging of interest directly. This arrangement is typically found in situations where the value or usage of the property itself can generate sufficient profits that serve as compensation to the creditor.
The concept of antichresis is found in civil law systems and its regulations may vary depending on the jurisdiction. It is important for parties involved to ensure that the terms of the antichresis agreement are clearly defined and legally binding, protecting the rights and interests of both the debtor and creditor.
Common Misspellings for ANTICHRESIS
- zntichresis
- sntichresis
- wntichresis
- qntichresis
- abtichresis
- amtichresis
- ajtichresis
- ahtichresis
- anrichresis
- anfichresis
- angichresis
- anyichresis
- an6ichresis
- an5ichresis
- antuchresis
- antjchresis
- antkchresis
- antochresis
- ant9chresis
- ant8chresis
Infographic
Add the infographic to your website:
