Short answer
Multiple mortgages may exist if each transaction is lawful. Creditor priority and property value determine practical recovery risk. An existing first mortgage does not guarantee repayment to the next creditor.
Practical example
An apartment is worth GEL 100,000 and the first secured claim is almost as large. A later mortgage may provide little economic protection.
What to do
Check registration priority and actual balances. Assess sale costs and available proceeds. Before signing, check special loan restrictions and agreements needed to change priority.
Legal basis
Georgian Civil Code — Articles 286, 289, 290. Checked on 28 October 2026. The outcome depends on the contract, facts and evidence.
YURFIRMA can review your documents and help prepare the appropriate demand or agreement. Contact us.
This is general information and does not replace a legal assessment of your specific case. The current law and the relevant facts are checked again when you seek advice.