The life mortgage loan is a contract by which a credit or financial institution grants a natural person a loan in the form of a capital sum or periodic payments, secured by a mortgage on a property owned by the borrower for use exclusively as a dwelling, the repayment of which - principal and interest capitalised annually - can only be demanded on the death of the borrower or on the alienation or dismemberment of ownership of the mortgaged property if this occurs before death.
Article L315-1
Updated 8 Nov 2023

