When mortgage loans made by several creditors encumber one or several properties, and they are sold or judicially awarded for payment to the forecloser, so that the sale price does not exceed or equal the mortgage loan which is being liquidated, subsequent loans shall be understood to be extinguished de facto and de jure, and action shall be taken in accordance with the provisions in the second rule of § 2460 of this title. This shall be understood to be without prejudice to the remaining rights and actions that the deferred creditors may lawfully exercise against their debtor.\nHistory —Mortgage Law, 1979, § 177.
Puerto Rico Legal Code