1207. Where a price payable in a lump sum or by instalments is fixed in the constituting act and the emphyteutic lessee fails to pay it for three years, the owner is entitled, after at least 90 days’ notice, to apply for resiliation of the constituting act.
Resiliation may not be applied for where divided co-ownership is established in respect of an immovable built by the emphyteutic lessee. The same applies where the immovable is the subject of a declaration of co-emphyteusis.