Subtitle I: General provisions

A security interest is the allocation of an asset or a group of assets, present or future, to the preferential or exclusive payment of the creditor.

Security in rem is legal, judicial or contractual, depending on whether it is granted by law because of the nature of the claim, by a protective judgment or by an agreement. It is movable or immovable, depending on whether it relates to movable or immovable property. It is general when it relates to all movables and immovables or only to movables or only to immovables. It is special where it…

A contractual security interest may be created by the debtor or by a third party. When it is constituted by a third party, the creditor has an action only on the property assigned as security. The provisions of articles 2299,2302to 2305-1,2308 to 2312 and 2314 are then applicable.

A security interest may be created over the assets of a legal person governed by private law by virtue of powers resulting from deliberations or delegations drawn up under private signatures, even though the security interest must be created by an authenticated deed.