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CCQ-1991 - Civil Code of Québec

Section 2754
Disposition versions

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2754. Where later ranking creditors are secured by a hypothec enforceable on only one of the items of property charged in favour of the same creditor, that creditor’s hypothec is divided, if two or more of the items of property are sold under judicial authority and the proceeds to be distributed are sufficient to pay his claim, in proportion to what remains to be distributed out of the respective proceeds of the items of property.
1991, c. 64, a. 2754; I.N. 2014-05-01; I.N. 2015-11-01.
2754. Where later ranking creditors are secured by a hypothec enforceable on only one of the properties charged in favour of the same creditor, that creditor’s hypothec is divided, if two or more of the properties are sold under judicial authority and the proceeds to be distributed are sufficient to pay his claim, in proportion to what remains to be distributed out of the respective proceeds of the properties.
1991, c. 64, a. 2754; I.N. 2014-05-01.
2754. Where later ranking creditors are secured by a hypothec on only one of the properties charged in favour of one and the same creditor, his hypothec is spread among them, where two or more of the properties are sold under judicial authority and the proceeds still to be distributed are sufficient to pay his claim, proportionately over what remains to be distributed of their respective prices.
1991, c. 64, a. 2754.
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