Whether the realization of the mortgage right is determined by the first mortgagee when the multiple

According to the law, the first mortgagee does not have the right to control the mortgage according to the law, but the first mortgagee has the right to be compensated in priority according to the law.

Article 54 of the Security Law of the People's Republic of China Where the same property is mortgaged to two or more creditors, the price obtained from the auction or sale of the collateral shall be repaid in accordance with the following provisions:

1) If the mortgage contract takes effect by registration, it shall be repaid in accordance with the order in which the mortgage is registered; if the order is the same, it shall be repaid in accordance with the proportion of creditor's rights;

2) If the mortgage contract takes effect from the date of signing, and the mortgage has been registered, it shall be repaid in accordance with the provisions of subparagraph (1) of this Article; If it is not registered, it shall be repaid in the order of the effective time of the contract, and if it is in the same order, it shall be repaid in accordance with the proportion of creditor's rights. The collateral is registered before the unregistered payment.

The claim secured by the mortgagor shall not exceed the value of its collateral.

If the creditor's rights secured by the mortgagor exceed the value of the collateral, the excess part shall not have the effect of priority for repayment.

If the same property is mortgaged to two or more creditors, and the claim secured by the mortgage right that is later in order matures first, the mortgagee can only be repaid for the part of the mortgage value that exceeds the claim secured by the mortgage in the first order.

If there are two or more mortgagees on a mortgage, it shall be repaid in the following order:

1. The first payment for mortgage registration.

2. If the mortgage registration is completed, the repayment shall be made in the order of mortgage registration. If it is registered at the same time, it shall be repaid in proportion to the creditor's rights.

3. If the mortgage has not been registered, it shall be repaid in proportion to the creditor's rights.

Property Law. Article 199:Where the same property is mortgaged to two or more creditors, the proceeds from the auction or sale of the mortgaged property shall be repaid in accordance with the following provisions:

1) If the mortgage has been registered, it shall be repaid in accordance with the order of registration; if the order is the same, it shall be repaid in accordance with the proportion of creditor's rights;

2) where the mortgage has been registered, it has preceded the unregistered payment;

3) If the mortgage is not registered, it shall be repaid in accordance with the proportion of the creditor's rights.

Legal Analysis: Mortgagee's Claim for Realization of Mortgage:

1. There is a valid mortgage;

2. The creditor's rights have been repented of and have not been repaid;

3. The debtor fails to perform its debts;

4. The unliquidated debt is not caused by the creditor.

Legal basis: Article 410 of the Civil Code of the People's Republic of China If the debtor fails to perform the debts due or the parties agree to realize the mortgage right, the mortgagee may agree with the mortgagor to be compensated in priority with the price obtained from the auction or sale of the mortgaged property. If the agreement harms the interests of other creditors, the other creditors may also request the people's court to revoke the agreement.

If the mortgagee and the mortgagor fail to reach an agreement on the method of realizing the mortgage right, the mortgagee may request the people's court to auction or sell the mortgaged property.

If the mortgaged property is discounted or sold, it shall refer to the market**.

If the same movable property is mortgaged to two or more creditors, each mortgagee shall be compensated according to the following conditions of mortgage registration:

1) If the mortgage has been registered, the order of repayment shall be determined according to the time of registration, that is, the creditor who handled the mortgage first shall be repaid first, and then the creditor who shall register the mortgage later shall be compensated;

2) If one of the two mortgages has been registered and the other has not, the creditor whose mortgage has been registered shall be compensated before the unregistered creditor;

3) If the mortgage rights are not registered, each creditor shall be repaid in proportion to the creditor's rights.

Legal basis] Article 414: Where the same property is mortgaged to two or more creditors, the proceeds from the auction or sale of the mortgaged property shall be repaid in accordance with the following provisions: