Swiss Civil Code

If a sub­or­din­ate mort­gage right is cre­ated and no high­er-rank­ing mort­gage ex­ists, or if the debt­or has not yet made use of an ex­ist­ing high­er-rank­ing right to cre­ate a mort­gage, or if a pre­ced­ent claim is worth less than the amount re­cor­ded in the land re­gister, in the event of fore­clos­ure, the pro­ceeds are dis­trib­uted among the ac­tu­al mort­gage cred­it­ors ac­cord­ing to their rank and ir­re­spect­ive of va­cant ranks.