Book1 Division07 Title11 Chapter05

DRAFT: CIVIL AND COMMERCIAL CODE FOR KINGDOM OF SIAM.

• The today existing (probably) only copy of its publication is in possession of the main library of Bangkok University. The detailed information and images of the original sources are available on the Centennial Website.
• The detailed information about the genealogical relations between the Draft 1919, Codes of 1923, Codes of 1925, and Code of 1992 is available at the "French Advisers' Heritage".

BOOK ON OBLIGATIONS.

DIVISION VII. SPECIFIC CONTRACTS.

TITLE XI. Mortgage.

Section 752.

• The transferee of a mortgaged property may remove the mortgage, provided that he be not the principal debtor, a surety or an heir of either of them.

《Genealogies》

1. Draft of April 1924: 819
2. Code of January 1925: 736

Section 753.

• The transferee may remove the mortgage at any time until, or within one month after he has been notified by the mortgagee of his intention to enforce the mortgage.

《Genealogies》

1. Draft of April 1924: 820
2. Code of January 1925: 737

Section 754.

• The transferee who wishes to remove the mortgage must offer to all the registered creditors to pay such sum of money as he thinks fit.

《Genealogies》

1. Draft of April 1924: 821
2. Code of January 1925: 738

Section 755.

• [I] The form of the offer may be made to contain the following particulars :
• (1) the place and description of the mortgaged property,
• (2) the date of transfer of ownership,
• (3) the name of the former owner,
• (4) the name and residence of the transferee,
• (5) the sum offered,
• (6) a calculation of the total amount due to each of the creditors including accessories, and of the sums which would be distributed to them according to their respective ranks.
• [II] A certified copy of the entries in the official register referring to the property mortgaged will be enclosed.

《Genealogies》

1. Draft of April 1924: 822
2. Code of January 1925: 738

Section 756.

• If all the creditors accept the offer, the mortgages, and preferential rights, if any, are removed by the payment of the sum offered.

《Genealogies》

1. Draft of April 1924: 823
2. Code of January 1925: -

Section 757.

• [I] If a creditor refuses the offer, he is entitled to apply to the Court within one month from the date of the offer, for an order to have the mortgaged property sold by public auction, provided that he notifies his refusal to the transferee and to the other registered creditors.
• [II] The transferee can bid at the auction.

《Genealogies》

1. Draft of April 1924: 824
2. Code of January 1925: 739

Section 758.

• If the nett proceeds of the auction are not more than the sum offered by the transferee, the creditor demanding sale shall bear the costs of the auction.

《Genealogies》

1. Draft of April 1924: 825
2. Code of January 1925: 740

Section 759.

• If a creditor does not answer the offer of the transferee within one month from the date of the offer, the mortgage or preferential right is removed by the transferee depositing in lieu of performance the sum offered to such creditor.

《Genealogies》

1. Draft of April 1924: 826
2. Code of January 1925: 741

Section 760.

• If the transferee who has been notified by the mortgagee of his intention to enforce the mortgage does not either perform the obligation or remove the mortgage, the mortgage is enforced against him in the same manner as if it were to be enforced against the mortgagor.

《Genealogies》

1. Draft of April 1924: 827
2. Code of January 1925: 742

Section 761.

• Any right over the mortgaged property existing in favour of the transferee before the transfer and extinguished by merger in consequence of the transfer, shall revive in his favour when the enforcement or the removal of the mortgage results in the transfer of the ownership to another person.

《Genealogies》

1. Draft of April 1924: 828
2. Code of January 1925: -

Section 762.

• In case of enforcement or removal of mortgage, if the value of the mortgaged property has been reduced by the fault of the transferee, he is liable to pay compensation to the mortgagee up to the extent of the injury suffered by him thereby.

《Genealogies》

1. Draft of April 1924: 829
2. Code of January 1925: 743

Section 763.

• In case of enforcement or removal of mortgage, if the value of the mortgaged property has been increased by the transferee, he is entitled to reimbursement of his expenses out of the proceeds of the sale up to the amount of the increase of value at the time of the auction.

《Genealogies》

1. Draft of April 1924: 830
2. Code of January 1925: 743