Editing Hypothec (section)

===By jurisdiction===
====Scotland{{anchor|Hypothec Amendment (Scotland) Act 1867|Hypothec Abolition (Scotland) Act 1880}}====
{{Infobox UK legislation
| short_title           = Hypothec Amendment (Scotland) Act 1867
| type                  = Act
| parliament            = Parliament of the United Kingdom
| long_title            = An Act to amend the Law relating to the Landlord’s Right of Hypothec in Scotland, in so far as respects Land held for Agricultural or Grazing Purposes.
| year                  = 1867
| citation              = [[30 & 31 Vict.]] c. 42
| introduced_commons    = 
| introduced_lords      = 
| territorial_extent    = Scotland
| royal_assent          = 15 July 1867
| commencement          = 
| expiry_date           = 
| repeal_date           = 
| amends                = 
| replaces              = 
| amendments            = 
| repealing_legislation = {{ubli|[[Bankruptcy and Diligence etc. (Scotland) Act 2007]]}}
| related_legislation   = 
| status                = repealed
| legislation_history   = 
| theyworkforyou        = 
| millbankhansard       = 
| original_text         = 
| revised_text          = 
| use_new_UK-LEG        = 
| UK-LEG_title          = 
| collapsed             = yes
}}
{{Infobox UK legislation
| short_title           = Hypothec Abolition (Scotland) Act 1880
| type                  = Act
| parliament            = Parliament of the United Kingdom
| long_title            = An Act to abolish the Landlord’s Right of Hypothec for Rent in Scotland.
| year                  = 1880
| citation              = [[43 Vict.]] c. 12
| introduced_commons    = 
| introduced_lords      = 
| territorial_extent    = Scotland
| royal_assent          = 24 March 1880
| commencement          = 
| expiry_date           = 
| repeal_date           = 
| amends                = 
| replaces              = 
| amendments            = 
| repealing_legislation = {{ubli|[[Bankruptcy and Diligence etc. (Scotland) Act 2007]]}}
| related_legislation   = 
| status                = repealed
| legislation_history   = 
| theyworkforyou        = 
| millbankhansard       = 
| original_text         = 
| revised_text          = 
| use_new_UK-LEG        = 
| UK-LEG_title          = 
| collapsed             = yes
}}
The law of agricultural hypothec long caused much discontent in Scotland; its operation was restricted by the [[Hypothec Amendment (Scotland) Act 1867]] ([[30 & 31 Vict.]] c. 42),<ref>[http://www.legislation.gov.uk/ukpga/Vict/30-31/42/contents Hypothec Amendment (Scotland) Act 1867]</ref> and by the [[Hypothec Abolition (Scotland) Act 1880]] ([[43 Vict.]] c. 12)<ref>[http://www.legislation.gov.uk/ukpga/Vict/43/12/contents Hypothec Abolition (Scotland) Act 1880]</ref> it was enacted that the landlord's right of hypothec for the rent of land, including the rent of any buildings thereon, exceeding two [[acre]]s (8,000 m{{sup|2}}) in extent, let for agriculture or pasture, shall cease and determine. By the same act and by the [[Agricultural Holdings (Scotland) Act 1883]] ([[46 & 47 Vict.]] c. 62) other rights and remedies for rent, where the right of hypothec had ceased, were given to the landlord.<ref name="EB1911"/>

Under Scots law, landlord's hypothec is a common law right of security enjoyed by landlords over any goods sited on the leased premises, regardless of who owns those goods.  The hypothec does not secure all sums which happen to be due to the landlord, only a portion of the rent. Landlord's hypothec is enforced by court proceedings known as sequestration for rent. The [[Bankruptcy and Diligence etc. (Scotland) Act 2007]] (asp 3)<ref>[http://www.legislation.gov.uk/asp/2007/3/section/208#text%3D%22sequestration%20for%20rent%22 Bankruptcy and Diligence etc. (Scotland) Act 2007, section 208]</ref> abolishes the common law diligence of sequestration for rent.

The [[Scottish Executive]] felt that such a mechanism had no part to play in a modern enforcement system, not least because a landlord is able to use other diligences to recover unpaid rent, such as attachment sequestration for rent can now be used to sell only goods that are secured by a right known as the landlord's hypothec, which arises automatically whenever there is a qualifying lease.

The act makes some changes to the hypothec, even though it is not a diligence.  For example, it completes the process of abolishing the hypothec over goods in dwelling-houses that was initiated by the [[Debt Arrangement and Attachment (Scotland) Act 2002]] (section 208(3) of the 2007 act).  It also abolishes the hypothec over goods owned by a third party (section 208(4)).

The act also states that, notwithstanding the abolition of sequestration for rent, landlord's hypothec does continue as a right in security (section 208(2)(a)).

====Quebec====
In Quebec law, the word is nevertheless used in translations as an equivalent of ''hypothèque'', which has a much broader meaning and encompasses the [[common law]] equivalents of, ''inter alia'', mortgages, non-possessory liens over movables or immovables, and legal or equitable charges. Thus, art. 2660 of the [[Civil Code of Quebec|Quebec Civil Code]] defines ''hypothec'', providing as follows:
: A hypothec is a real right on movable or immovable property made liable for the performance of an obligation. It confers on the creditor the right to follow the property into whomsoever's hands it may come, to take possession of it, to take it in payment, to sell it or to cause it to be sold and thus to have a preference upon the proceeds of the sale, according to the rank as determined in this Code.

The Quebec ''hypothèque'', essentially equivalent to an American non-possessory lien or English legal charge, is an elastic, hypothecatory security interest that has all the rights of recourse (''jus exigendi'') of an American lien-theory mortgage or English mortgage by way of legal charge, may also be taken over movable and/or immovable property alike, and must be perfected (i.e. registered). The types as set forth in the Civil Code are:
* ''hypothèques conventionnelles'' (art. 2681) - mortgage lien or legal charge (acting as a mortgage)
** ''hypothèque immobilière'' - American real estate [[mortgage]] (REM) or English mortgage of land
** ''hypothèque mobilière'' (art. 2702) - Australian personal property security (PPS)
** ''hypothèque mobilière sur une créance'' (art. 2710) - credit mortgage
** ''hypothèque ouverte'' (art. 2715) - American floating lien or English [[floating charge]] (in Europe, ''hypothèque ouverte'' refers to an open-end mortgage)
* ''hypothèques légales'' (art. 2724) - involuntary lien or [[equitable charge]]
** equivalent to the American tax lien, mechanic's or construction lien, home owner's association lien, and judgment lien.

The Qc. Civ. Code also provides for another real security called a ''priorité'', formerly known as a ''privilège'' (as it is still known in France, Louisiana, etc.), defined as follows:
:A preferential right allowing a creditor to rank prior to all other concurrent creditors, even prior secured creditors [...] (art. 2650)
More specifically, a Quebec ''priorité'' is a non-possessory, indivisible, unregistrable (i.e. un-perfectable) real security arising by operation of law alone merely providing a priority right over the security subject. When attaching to movable property, this security interest most closely matches the hypothec as defined at the head of this article. The primary ''priorités'' correspond to the American vendor's lien, lien for court costs, municipal lien, and possessory lien (over movables).

====California====
Under California Civil Code Section §2920 (a), a mortgage is a contract by which specific property, including an estate for years in real property, is hypothecated for the performance of an act, without the necessity of a change of possession.