Libro III · Título Primero Capítulo XII. De las cedulas hipotecarias
Article 605 Mortgage bonds
Mortgage bonds issued in accordance with the law shall be negotiable instruments and, although they are secured by mortgage, they shall not lose their quality as movable property.
The provisions of article 867 of the Civil Code shall not apply to the creation of mortgage bonds by a bank or with the intervention or guarantee thereof, in which case the appraisals made by the bank shall serve as the basis for determining the maximum amount of the issue.
Official Spanish text: OMPI (opens in a new tab). Read this article in Spanish
Article 606 Cancellation
The cancellation of the mortgage bonds that meet the requirements determined in the previous article may be made by any of the means indicated in article 878 of the Civil Code, but the record of the consignment required by said provision shall be replaced by the record of the deposit in a bank of the principal, interest and other charges represented by the bonds. The deed of cancellation shall be executed by the trustee bank or by the financial agent of the debt.
Official Spanish text: OMPI (opens in a new tab). Read this article in Spanish
Source: OMPI, WIPO Lex (texto oficial suministrado por Guatemala, con las reformas anotadas hasta el Decreto 55-2010). Machine-translated from the official Spanish text; Códice is not legal advice, always verify against the official publication.