ARRANGEMENT OF SECTIONS
Section 1—Nature of a Mortgage.
(1) A mortgage for the purposes of this Decree is a contract charging immovable property as security for the due repayment of debt and any interest accruing thereon or for the performance of some other obligation for which it is given, in accordance with the terms of the contract.
(2) A mortgage shall be an encumbrance on the property charged, and shall not, except as provided by this Decree, operate so as to change the
ownership, right to possession or other interest (whether present or future) in the property charged....click here to download