Usufructuary Claims and Property Transfer Priority Disputes
Exhibit 2. Prepared as a registered document submitted to the relevant officials on June , a payment of 400,000 baht was made, and the remaining 100,000 baht was registered with Khaw (White) for construction of an additional 4 plots, amounting to 80,000 baht in compensation. Subsequently, the usufructuary right for the compensation money was registered prior to commencing construction, with 50,000 baht having been paid. This resulted in the house and land having an increased value of 50,000 baht. Thereafter, Dam (Dark) transferred the aforementioned house and land to Khiao (Green) as a mortgage for 400,000 baht, following the completion of the registration with the relevant officials. If Dam has no funds to repay the debt, and Khiao desires to enforce the debt from the house and land of Dam, it shall be adjudicated as to who has the right to receive the amount. Khaw has the right to be paid first, to the extent of the increase in the value of the real property, amounting to an unspecified sum. Daeng (Red) has the right to be paid second, amounting to an amount following the first payment. Khiao then has the right to be paid third, amounting to 400,000 baht. The order of priority for the usufructuary rights registered according to the Civil Code Sections 279, 286, 287, 288, and 28. The Irrigation Department transferred a dredging excavator.