SEQUESTRATION OR JUDICIAL DEPOSIT

Category: Obligations and Contracts

SEQUESTRATION OR JUDICIAL DEPOSIT

 
Art.  2005.  A  judicial  deposit  or  sequestration  takes  place when  an  attachment  or  seizure  of  property  in  litigation  is ordered. (1785)
 
Art.  2006. Movable as  well as immovable property may be the object of sequestration. (1786)
 
Art.    2007.    The    depositary    of    property    or    objects sequestrated  cannot  be  relieved  of  his  responsibility  until the  controversy  which  gave  rise  thereto  has  come  to  an end, unless the court so orders. (1787a)
 
Art. 2008. The depositary of property sequestrated is bound to comply, with respect to the same, with all the obligations of a good father of a family. (1788)
 

WHEN JUDICIAL DEPOSIT TAKES PLACE

     A deposit may be constituted judicially or extrajudicially
     Takes place when an attachment or seizure of property in litigation is ordered by the court
 

NATURE AND PURPOSE OF JUDICIAL DEPOSIT

     Judicial deposit is auxiliary to a case pending in court
     Purpose is to maintain the status quo during the pendency of the litigation or to insure the rights of the parties to the property in case of a favorable judgment
 

OBLIGATION OF DEPOSITARY OF SEQUESTRATED PROPERTY

     The  depositary  of  sequestered  property  is  the  person appointed by the court
     He  has  the  obligation  to  take  care  of  the  property  with diligence  of a good father  of  a family  and  he  may not be relieved of his responsibility until the litigation is ended or the court so orders 

Art.  2009.  As  to  matters  not  provided  for  in  this  Code, judicial  sequestration  shall  be  governed  by  the  Rules  of Court. (1789)
 

APPLICABLE LAW

     The  law  on  judicial  deposit  is  remedial  and  the  Rules  of Court is thus applicable
     Rule   57   on   preliminary   attachment,   Rule   59   on receivership, and Rule 60 on replevin