Article 348. Grounds for foreclosure of mortgaged property.
1. Recovery of the mortgaged property to meet the requirements of the pledgee (creditor) may be applied in the event of the debtor’s default or improper performance of the obligation due to the circumstances for which he is liable. 2. The foreclosure of the pledged property may be denied if the violation of the obligation secured by the pledge by the debtor is extremely insignificant and the amount of the pledgeholder’s claims as a result is clearly disproportionate to the value of the pledged property.
References to other articles of chapter 23. Ensuring the fulfillment of obligations: