Joint mortgage - Gesamthypothek

Japanese: 共同抵当 - きょうどうていとう（英語表記）Gesamthypothek

A mortgage established on several pieces of real property as security for the same claim (Civil Code, Articles 392 and 393). It is also called a general mortgage. Usually, land and the building on it are jointly mortgaged, and the Real Estate Registration Act provides provisions for the procedure for establishing a joint mortgage (Article 83, Paragraph 1, Item 4, 91). For example, if creditor A takes out a joint mortgage on land A and land B owned by debtor B to secure his claim against debtor B, A can seize the real property (→ seize), auction it, and receive preferential payment (→ payment) from the sale proceeds paid by the purchaser. In this case, A can auction A and B simultaneously and receive preferential payment from both properties in proportion to their value, or A can first auction only A and receive preferential payment, and then auction B for the shortfall. The former is called simultaneous distribution, and the latter is called staggered distribution. The Civil Code allows junior mortgagees to be subrogated so that the dividend results for the relevant creditors are the same in the case of simultaneous dividends and at different times (Article 392, paragraph 2, second sentence).

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

同一の債権の担保として数個の不動産の上に設定される抵当権（民法392，393条）。総括抵当ともいう。通常は，土地とその上の建物とが共同抵当とされ，不動産登記法は，共同担保の設定手続などについて規定を設けている（83条1項4号，91）。たとえば，債権者 Aが債務者 Bに対して有する自己の債権を担保するために，B所有の甲土地と乙土地を共同抵当にとった場合，Aは不動産を差し押さえ（→差押え），競売にかけて，買受人が納付した売却代金から優先弁済（→弁済）を受けることができる。この際，Aは，甲と乙を同時に競売にかけて双方から不動産の価額に比例して優先弁済を受けてもよいし，まず甲のみを競売にかけて優先弁済を受け，その後，不足分について乙を競売にかけて優先弁済を受けてもよい。前者を同時配当，後者を異時配当という。民法は，同時配当の場合と異時配当の場合とで，関係する債権者の配当結果が同じになるように，後順位抵当権者に代位を認めている（392条2項後段）。

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