Executory reconveyance contracts may be assigned for specific performance, but a bare reconveyance right creates no mortgageable interest.

An executory agreement for reconveyance of immovable property may be enforced by an assignee as a representative-in-interest, unless the contract is personal in nature or expressly forbids assignment; the right remains enforceable against a surviving coparcener where the contract is otherwise binding on the family. By contrast, a mortgage requires transfer of an existing interest in specific immovable property. A mere contractual right to seek reconveyance does not create present ownership, a transferable proprietary estate, or a mortgageable interest. The distinction turns on enforcement of the covenant versus creation of proprietary rights.

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Issues: (i) Whether an assignee of an executory contract for reconveyance of immovable property could enforce specific performance against the surviving coparcener. (ii) Whether the document created a present proprietary interest capable of being mortgaged, or was only a bare executory right to seek reconveyance.

Issue (i): Whether an assignee of an executory contract for reconveyance of immovable property could enforce specific performance against the surviving coparcener.

Analysis: An executory agreement for sale does not create an interest in immovable property, and it is not a mere right to sue. The statutory scheme of specific relief contemplates enforcement by a representative-in-interest, and the prohibition applies only where the contract is personal in nature or prohibits assignment. The same principle governs a surviving coparcener, subject to the contract being one that is binding on the family under the ordinary tests of necessity or benefit.

Conclusion: The assignee could maintain the suit for specific performance, and the contract was enforceable against the surviving coparcener.

Issue (ii): Whether the document created a present proprietary interest capable of being mortgaged, or was only a bare executory right to seek reconveyance.

Analysis: A mortgage requires the transfer of an existing interest in specific immovable property. The document in question primarily confirmed the prior sale and ownership of the purchaser, and the right reserved to the transferor was only to obtain reconveyance on fulfilment of conditions. Such a right did not amount to present ownership or a transferable proprietary interest.

Conclusion: The document was not a mortgage and conferred no present interest capable of hypothecation.

Final Conclusion: The appeals failed because the assignees could enforce the covenant in one set of matters, but the claimed mortgage-based right in the other matter was not legally sustainable.

Ratio Decidendi: A specifically enforceable executory contract for reconveyance of immovable property may be enforced by an assignee against persons bound under the contract, but a bare contractual right to seek reconveyance does not itself create a present proprietary interest or mortgageable estate.

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