Under this rule, the entire identified asset remains subject to each creditor’s right of retention. The parties have not necessarily pledged the left half to one lender and the right half to the other.
This is a security claim, not a division of ownership. The pledgor remains the owner; each pledgee holds a legally protected claim to retention until the relevant debt is discharged.
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The whole asset remains subject to each security right
Kitab al-Rahn: Two Pledgees, Conditional Security and Custody
Under this rule, the entire identified asset remains subject to each creditor’s right of retention. The parties have not necessarily pledged the left half to one lender and the right half to the other.
This is a security claim, not a division of ownership. The pledgor remains the owner; each pledgee holds a legally protected claim to retention until the relevant debt is discharged.