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Civil Act — Article 368 (Joint mortgages and dividend of proceeds thereof, subrogation of mortgagee next in priority)

민법 제368조

(1) Where two or more immovables are mortgaged to secure one claim and the proceeds of the auction are to be applied simultaneously to its satisfaction, the burdens in respect of the obligation shall be divided in proportion to the proceeds of the auction sale of each immovable.

(2) If the proceeds of the auction sale of part of the immovables mentioned in the preceding paragraph are to be applied, the mortgagee may obtain full satisfaction of his or her claim out of the same; in such case the mortgagee next in priority may exercise the right of the prior mortgagees by subrogation to the extent of the amount which the latter would have received out of other immovables in accordance with the provisions of the preceding paragraph.

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