Cap. 16 Art. 2016Special hypothec in addition to general hypothec.

(1) The creditor of a debt secured by a general hypothec and whose rights are not otherwise already adequately secured, shall have, and may cause to be registered, as a further security of the same debt, a special hypothec over such of the immovable and movable property of the debtor which are of a kind referred to in article 2012 and which are of a value sufficient to secure the debt as provided in article 2063.

(2) The right conferred by sub-article (1) of this article shall be exercisable by means of a note presented to the Director of the Public Registry for registration and signed by any person who, according to article 2045, could have signed the note in respect of the general hypothec and in the case of debtors resulting from a public deed by means of a note signed by any notary public; but the exercise of such right shall be without prejudice to the rights of the

* This article, as substituted by Act LVIII of 1975, applies to all hypothecs arising or contracted before 1st January, 1976. However, until the expiration of ten years after the said date, and subject to all other provisions of this Code, a general hypothec registered before the 1st January, 1976 shall continue to attach to immovables charged therewith, even if such immovables are acquired after the 1st January, 1976, as if the provision of this Code were still operative as in force prior to the substitution effected by Act LVIII of 1975. † This article, as substituted by Act LVIII of 1975, applies to all hypothecs arising or contracted before 1st January, 1976. However, until the expiration of ten years after the said date, and subject to all other provisions of this Code, a general hypothec registered before the 1st January, 1976 shall continue to attach to immovables charged therewith, even if such immovables are acquired after the 1st January, 1976, as if the provision of this Code were still operative as in force prior to the substitution effected by Act LVIII of 1975. debtor to demand the reduction or cancellation of the registration in accordance with the provisions of Sub-title V of this Title.

(3) Where the immovable property of the debtor over which is to be registered the special hypothec referred to in sub-article (1) of this article is situated in an area declared to be a land registration area in accordance with the Land Registration Act, or is otherwise registered in accordance with the provisions of that Act, the right conferred by sub-article (1) shall be exercisable by the registration in accordance with that Act, of a charge or a cautionary charge as the case may be.

§ I. OF LEGAL HYPOTHEC