What is Antichresis?

Legal Definition
Antichresis, under civil law and Roman law, is a contract whereby a debtor pledges (i.e., conveys possession but not title) real property to a creditor, allowing the use and occupation of the pledged property, in lieu of interest on the loan.

Historically, antichresis was used in Ancient Mesopotamia (Akkad, Assyria, Babylonia) and by the Greeks and the Romans. After the Western Church banned interest loans, it became a favored method of securing loans in early medieval society and was known in England as the gage of land (OFr gage, MLG sate, Germ Satzung). There were two variants: (1) the living gage (OFr vif gage, MLG dotsate, Germ Totsatzung), under which the income and profits coming from the estate went towards reducing the loan's principal; and (2) the dead gage (OFr mort gage, Germ Zinssatzung), under which the income and profits were taken only as interest. The latter form underlies the modern antichresis.

If the creditor is a debtor, he can sell the rights of antichresis to another creditor (Lat subpignus, Germ Unterpfand, It suppegno).
-- Wikipedia
Legal Definition
Contracts. A word used in the civil law to denote the contract by which a creditor acquires the right of reaping the fruit or other revenues of the immovables given to him in pledge, on condition of deducting, annually, their proceeds from the interest, if any is due to him, and afterwards from the principal of his debt. Louis. Code, art. 3143 Dict. de Juris. Antichrese, Mortgage; Code Civ. 2085. Dig. 13, 7, 7 ; 4, 24, 1 Code, 8, 28, 1.
-- Bouviers Law Dictionary
Legal Definition
In the civil law. A species of mortgage or pledge of immovables. An agreement by which the debtor gives to the creditor the income from the property which he has pledged, in lieu of the interest on his debt. Guyot, Repert.; Marquise De Portes v. Hurlbut, 44 N. J. Eq. 517, 14 Atl. 891.

A debtor may give as security for his debt any immovable which belongs to him, the creditor having the right to enjoy the use of it on account of the interest due, or of the capital lf there is no interest due; this is called "antichresis." Civ. Code Mex. art 1927.

By the law of Louisiana, there are two kinds of pledges,—the pawn and the antichresis. A pawn relates to movables, and ube antichresis to immovables. The antichresis must be reduced to writing; and the creditor thereby acquires the right to the fruits, etc., of the immovables, deducting yearly their proceeds from the interest, in the first place, and afterwards from the principal of his debt. He is bound to pay taxes on the property, snd keep it in repair, unless the contrary is agreed. The creditor does not ,become the proprietor of the property by failure to pay at the agreed time, and any clause to that effect is void. He can only sue the debtor, and obtain sentence for sale of the property. The possession of the property is, however, by the contract, transferred to the creditor. Livingston v. Story, 11 Pet. 351, 9 L. Ed. 746.
-- Black's Law Dictionary