When a real action is proper against an estate, charged with an annuity, for the payment of pensions, if what remains of the value of the same is not sufficient to cover the principal of the annuity and twenty-five (25) percent in addition, the annuitant may oblige the person paying the annuity, at the latter’s option, to redeem the annuity or to complete the guarantee or to abandon the remainder of the estate in favor of the former.
History —Civil Code, 1930, § 1550.