The mortgage shall confer on the mortgagee the right to pursue the debtor’s property and the right of preference.
The right of preference shall be exercised in accordance with article 225 of this Uniform Act to secure the principal, costs and interest for three years on the same rank, except particular registrations of mortgages are taken from their date, for interests other than those maintained by their initial registration.
The right of preference shall also be exercised by subrogation on the insured amount of the damaged property.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 45
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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Section 197 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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