(1) If there is a pledge relating to the share of a co-owner, the pledgee exercises the rights that arise from the community of co-owners with regard to the management of the thing and the nature of its use.
(2) The dissolution of the community may, before the pledgee’s right of sale comes into existence, be demanded only by the co-owner and the pledgee jointly. After the right of sale has come into existence, the pledgee may demand that the community be dissolved without a need for the approval of the co-owner; they are not obliged by an agreement by which the co-owners have permanently or temporarily excluded the right to demand the dissolution of the community or have determined a period for notice of termination.
(3) If the community is dissolved, the pledgee is entitled to a pledge over the objects that take the place of the share.
(4) The right of the pledgee to sell the share remains unaffected.