Redemption of mortgage guarantees installments

Article 940 – Redemption of mortgage guarantees installments - Where the obligation secured by mortgage is periodical installments, not being those which constitute real ones on the property, the redemption takes place by depositing capital corresponding to such installments, done in coins, securities or shares of banks legally constituted.

§ 1 - The capital deposited reverts to the benefit of the depositor, or whoever represents him as soon as the obligation which gave rise to the deposit is extinct.

§ 2 - Until the deposit lasts, the creditor receives interest or dividends of the titles deposited, choice of which is left to the discretion of the depositor, securing to the creditor the realization of the installments.