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Section 1232 Lower-ranking pledgees
BGB 1971 Pledgees and creditors who are equivalent to pledgees in insolvency proceedings , and creditors who on execution of judgment against the immovable property have a right to satisfaction from this property are , insofar as it is a question of satisfaction from the objects subject to their claims , not affected by the public notice procedure . The same applies to creditors whose claims are secured by a priority notice or who have a right of separation of assets in the insolvency proceedings , with regard to the objects subject to their rights .