(1) For the creation of a mortgage for a claim based on a bearer bond, a declaration of the owner to the Land Registry that they are creating the mortgage and registration in the Land Register are sufficient; the provision of section 878 applies.
(2) The exclusion of the right of the creditor in accordance with section 1170 is permitted only if the presentation period named in section 801 has expired. If, within the period, the bond is presented or the claim based on the instrument has been asserted in court, the exclusion may not take place until the limitation period has expired.