From this indemnity, however, were excluded ships, cargoes, and other movable property seized in conformity to the laws of war and the prohibitory decrees.
However, under a handful of mixed legal systems, the hypothec was imported as a non-possessory real security over movable property (in opposition to the common-law chattel mortgage).
Movable property roughly corresponds to personal property, while immovable property corresponds to real estate or real property, and the associated rights and obligations thereon.
