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1475

Article 1475

De l'extinction des Privilèges et Hypothèques

Property Law
Titre XXXII: Des Privilèges et Hypothèques (On Privileges and Mortgages)
Chapitre V: De l'extinction des Privilèges et Hypothèques (On the Extinction of Privileges and Mortgages)

Les privilèges et hypothèques s'éteignent : 1°. Par l'extinction de l'obligation principale ; 2°. Par la renonciation du créancier à l'hypothèque ; 3°. Par l'accomplissement des formalités et conditions prescrites pour purger les hypothèques des biens acquis par des tiers.

Life lesson: Three ways to kill a privilege or mortgage: pay off the debt, get the creditor to give it up, or properly purge it.
Notes: Three grounds for extinction: (1) principal obligation extinction (accessory follows principal), (2) creditor's renunciation, (3) proper purging by third-party acquirer.
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