EXTINGUISHMENT OF PLEDGE BY RENUNCIATION OR ABANDONMENT
Art. 2111. A statement in writing by the pledgee that he renounces or abandons the pledge is sufficient to extinguish the pledge. For this purpose, neither the acceptance by the pledgor or owner, nor the return of the thing pledged is necessary, the pledgee becoming a depositary. (n)
> The renunciation or abandonment must be in writing to constitute an extinguishment of pledge
> The renunciation is not conditioned upon the acceptance by the pledgor or owner nor upon the return of the thing pledged
> Under this article, the thing pledged remains in the possession of the pledgee. Hence the renunciation must be in writing.