Meaning of Judicial Mortgage in French Law (New Caledonia), including effects, Conditions & Rights?

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Selwyn Leodoro

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We have been paying off a property in New Caledonia up to XPF.20 million for a property which was only valued at XPF.5 million. the process of payment did not follow due process under French Law, so we have now registered a Judicial Mortgage over the property (wef 23 May 2016).
We are in a different jurisdiction [Republic of Vanuatu] so would like to know the full meaning of "Judicial Mortgage", including implied rights, conditions and effect of the Mortgage.
 
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