For a single identified asset initially pledged for two valid debts:
1. The whole object remains held as security for each creditor.
2. Ordinary pledge-loss accounting is apportioned by the respective debt claims.
3. Repaying one creditor leaves the whole object securing the other.
These conclusions coexist because a right to retain the asset is not identical to the numerical amount credited against a debt.
Opening interactive controls...
The joint-pledge rule in one framework
Kitab al-Rahn: Two Pledgees, Conditional Security and Custody
For a single identified asset initially pledged for two valid debts:
1. The whole object remains held as security for each creditor.
2. Ordinary pledge-loss accounting is apportioned by the respective debt claims.
3. Repaying one creditor leaves the whole object securing the other.
These conclusions coexist because a right to retain the asset is not identical to the numerical amount credited against a debt.