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Art. 804

210CCFederal ActJan 1, 1912Original source
  1. Where monetary compensation is received in connection with the consolidation of parcels of land subject to mortgages, such funds are distributed among the creditors according to their rank or, if of equal rank, in proportion to the size of their claims.
  2. Such compensation must not be paid to the debtor without the creditors’ consent if it exceeds one-twentieth of the secured debt, or if the new parcel of land no longer provides sufficient security.

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