A mortgage is extinguished: (1) By the extinction or destruction of the thing mortgaged. (2) By confusion as a result of the obligee's acquiring ownership of the thing mortgaged. (3) By prescription of all the obligations that the mortgage secures. (4) By discharge through execution or other judicial proceeding in accordance with the law. (5) By consent of the mortgagee. (6) By termination of the mortgage in the manner provided by Paragraph D of Article 3298. (7) When all the obligations, present and future, for which the mortgage is established have been incurred and extinguished.
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