English translation
If the mortgaged property is compulsorily sold at public auction, whether against the owner of the property, the third-party possessor, or the custodian to whom the property was delivered upon relinquishment, the mortgage rights over that property shall be extinguished upon deposit of the price at which the auction was adjudicated or payment thereof to the registered creditors whose rank permits satisfaction of their rights out of that price. Home Page 1078 Index of the Law Civil Code Decree-Law No. 67 of 1980 AD promulgating the Civil Code Part Two Possessory Pledge Chapter One Creation of a Possessory Pledge
Arabic original
إذا بيع العقار المرهون بيعا جبريا بالمزاد العلني سواء كان ذلك في مواجهة مالك
العقار أو الحائز أو الحارس الذي سلم إليه العقار عند التخلية، فإن حقوق الرهن
على هذا العقار تنقضي بإيداع الثمن الذي رسا به المزاد أو بدفعه إلى الدائنين المقيدين
الذين تسمح مرتبتهم باستيفاء حقوقهم من هذا الثمن.Ask about this article
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