2560

When a mortgaged property is sold and the seller and the purchaser should have agreed that the buyer shall subrogate himself not only with respect to the liabilities derived from the mortgage, but also with respect to the personal obligations secured therein, the seller shall be released from said obligations, if the creditor gives his express or tacit consent.\nIf there was no agreement to convey the obligation, but the buyer has deducted this amount from the sale price, or retained it, even though it is not so stated in the deed, and when the obligation was due it was paid by the debtor who sold the property, the latter shall be subrogated in the creditor’s place and stead until the purchaser reimburses the full amount owed.\nHistory —Mortgage Law, 1979, § 164; June 14, 1980, No. 143, p. 535.