Article 1555

The completion of the prescription period of the right of action to claim performance of an obligation extinguishes the rights of pledge and hypothec securing it.

Nevertheless, the prescription does not prevent the right of pledge from being exercised against the encumbered property if the property consists of a moveable thing or a right payable to bearer or order, and if this thing or the document payable to bearer or order has been brought under the control of the pledgee or a third party.

The right of action to claim performance of an obligation secured by hypothec is not prescribed until twenty years from the beginning of the day following the one on which the hypothec has been attached to the obligation.