Section 716.- A mortgage, even after part performance, extends to all the properties mortgaged and the whole of each of them.

 

Section 717.- If a mortgaged property is divided into parcels, the mortgage continues notwithstanding to extend to each and all of such parcels.

However, any parcels may be transferred free of mortgage with the consent of the mortgagee. Such consent may not be set up against a third person unless it has been registered.

 

Section 718.- A mortgage extends to all things which are connected with the mortgaged property, subject, however, to the restrictions contained in the three following Sections.

 

Section 719.- A mortgage over land does not extend to the buildings erected by the mortgagor upon such land after the date of the mortgage, unless there is in the contract a special clause to that effect.

However, in any case, the mortgagee can have such buildings sold with the land, but he can exercise his preferential right only against the price obtained for the land.

 

Section 720.- A mortgage over buildings erected or constructions made upon or under the land of another person does not extend to such land, and vice versa.

 

Section 721.- A mortgage does not extend to the fruits of the mortgaged property except after the mortgagee has notified the mortgagor or the transferee of his intention to enforce the mortgage.

 

CHAPTER III

RIGHTS AND DUTIES OF MORTGAGEE AND MORTGAGOR

 

Section 722.- When a property has been mortgaged and a servitude or other real right is registered after the registration of the mortgage without the consent of the mortgagee, the mortgage has priority over the servitude or other real right and the latter will be erased from the register where its existence prejudices the rights of the mortgagee on the enforcement of the mortgage.

 

Section 723.- If the mortgaged property is damaged, or if one of the mortgaged properties is lost or damaged, so that the security becomes insufficient, the mortgagee may enforce the mortgage at once, unless the mortgagor has not been at fault and offers either to mortgage another property of sufficient value or to repair the damage within a reasonable time.

 

Section 724.- A mortgagor, who has mortgaged his property as security for the performance of an obligation by another person and performs the obligation on behalf of the debtor to prevent the enforcement of the mortgage, is entitled to recover from the debtor the amount of the performance.

If the mortgage is enforced, the mortgagor is entitled to recover from the debtor the amount by which the mortgagee has been satisfied by such enforcement.