Book3 Title12 Chapter04
From Thai Codification Draft of 1924
DRAFT: CIVIL AND COMMERCIAL CODE FOR KINGDOM OF SIAM
BOOK III ON SPECIFIC CONTRACTS. (April 1924)
- Reconstructed from the Documents in Vols. 86, 87, 88, and 89 of “The Archives of the History of Thai Codification”.
- For the details, please, refer to the "Introductory Notes" to the "Reconstructed Book III on Specific Contracts".
TITLE XII. Mortgage.
Chapter IV. Enforcement of Mortgage.
Section 810.
- In case of non-performance, the mortgagee is entitled to have the mortgage enforced in the manner described in the following sections.
《Genealogies》
- Draft of 1919: Ob.743
- Code of January 1925: -
- Code of January 1929: -
Section 811.
- The mortgagee must first notify the debtor by registered letter to perform his obligation within a reasonable time to be fixed in the notice. If the debtor fails to comply with such notice, the mortgagee can apply to the Court for an order:
- (1) either ordering that the property mortgaged be seized and sold by public auction; or
- (2) transfering to him the ownership of the mortgaged property.
《Genealogies》
Section 812.
- The Court shall not issue an order transfering the property to the creditor when :
- (1) the debtor has failed to pay interests for less than five years; or
- (2) the mortgagor has satisfied the Court that the value of the property overcovers the amount due; or
- (3) there are other registered mortgages or preferential rights on the same property.
《Genealogies》
Section 813.
- When one and the same property is mortgaged to several mortgagees, they rank according to the respective dates and hours of registration, and the earlier mortgagee shall be satisfied before the later one.
《Genealogies》
Section 814.
- A later mortgagee cannot enforce his right to the injury of an earlier one.
《Genealogies》
Section 815.
- The nett proceeds of the auction shall be distributed to the mortgagees according to their ranks, and the surplus, if any, shall be delivered to the mortgagor.
《Genealogies》
Section 816.
- If the estimated value of the property, in case of transfer, or the nett proceeds, in case of auction, are less than the amount due, the debtor of the obligation remains liable for the difference.
《Genealogies》
Section 817.
- If a mortgage extends to several properties and no order has been fixed, the mortgagee can enforce his right upon such of them as he may select, provided that he does not do so upon more properties than is necessary for the satisfaction of his right.
《Genealogies》
Section 818.
- The mortgagee who intends to enforce the mortgage against the transferee of a mortgaged property must notify the transferee by registered letter of his intention one month before applying to the Court.
《Genealogies》
