Any architect, contractor or any other person employed to construct, repair or reconstruct a building, may before beginning work, obtain a conventional mortgage or, through a court order, a forcible mortgage on the building on which work is done.
The said mortgage shall be temporarily registered for the estimated amount due. Such registration shall be assigned a rank at the same time for a period not exceeding one month following the completion of work attested by a bailiff. The said mortgage shall maintain its date where within the same time-limit, either by agreement between the parties or by court order the registration is made final for the total or any part of the estimated amount due.
Any person who provides funds for the payment or reimbursement of the architects, contractors and any other persons employed to construct, repair or reconstruct a building may obtain a conventional or forcible mortgage under the same conditions as the creditor once it is formally established from the loan agreement that the said amount was intended for that purpose and, from the receipt issued by the architects, or the contractors and any other persons that payment was made from the borrowed funds.
Section 2
Judicial Forcible Mortgages
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 48
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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