Article 2563

Insurance or expropriation compensation, compensation for damages and other compensation which take the place of the hypothecated immovable may not be paid to the grantor unless all the hypothecary creditors who have a registered claim on the immovable agree to such payment. The insurer, the expropriating authority and the person who is under the obligation to pay compensation must consult the registers of immovable property.

The grantor to whom such compensation is due shall inform all registered creditors of the amount of and reason for compensation and of the name and address of the person liable to pay it.

The creditors shall be deemed to agree to the compensation being paid to the grantor where they fail to declare their objection to the payment within thirty days from having received information as provided in sub-Article (2).

The grantor may demand that any compensation not exceeding one two thousand Nakfas be paid to him.

He may demand that any compensation be paid to him where he undertakes to use it to rebuild or repair the immovable and offers to furnish sureties or securities sufficient to guarantee that he will comply with his undertaking.

He may in any case require that compensation be paid into the hands of a trustee appointed by the Court.