Morals of the Church
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point — Wouters, Manual of Moral Theology

Point III. On Hypothec

968.

I. Notion. Hypothec is a real right by which another's immovable thing is obligated to the creditor as security of a debt. The right of hypothec commonly arises from contract.

Loans (Mutuum and Commodatum)Suretyship, Pledge and HypothecHypothec (Mortgage)

969.

II. Division. Hypothec is distinguished as conventional, judicial, and legal, according as the right of hypothec arises from contract, from a decree of a judge, or from law.

Hypothec (Mortgage)

970.

III. Form. The form is established by law.

Hypothec (Mortgage)

971.

IV. Rights of the hypothecary creditor. The creditor has the debtor's thing obligated to himself until the latter has paid; and if the latter is unequal to paying debts, he has the right that payment be made to him from the thing obligated before the other creditors, according to what is to be said in n. 1012.

Hypothec (Mortgage)

972.

V. Obligation of the debtor. "It is not permitted to give the same thing in hypothec to several persons, unless it is sufficient for paying all, or the later ones are warned about the prior hypothec" (St. Alphonsus, III, 915).

1 Cf. Oswald von Nell-Breuning, Grundzüge der Börsenmoral.

Hypothec (Mortgage)

Within this division