A person that is subrogated to the claim of the obligee pursuant to the provisions of the preceding two Articles may exercise all rights possessed by the obligee as the effect of, and as a security for, the claim held by the obligee.
前二条の規定により債権者に代位した者は、債権の効力及び担保としてその債権者が有していた一切の権利を行使することができる。
The exercise of rights under the provisions of the preceding paragraph is allowed only to the extent that the person that is subrogated to the claim of the obligee is entitled to seek reimbursement from the obligor based on the person's own rights (if one of the guarantors is subrogated to the claim of the obligee in relation to other guarantors, only to the extent that the guarantor is entitled to seek reimbursement from the other guarantors based on that guarantor's own rights).
前項の規定による権利の行使は、債権者に代位した者が自己の権利に基づいて債務者に対して求償をすることができる範囲内（保証人の一人が他の保証人に対して債権者に代位する場合には、自己の権利に基づいて当該他の保証人に対して求償をすることができる範囲内）に限り、することができる。
In the case referred to in paragraph (1), the following provisions apply in addition to the provisions of the preceding paragraph:
a third party acquirer (meaning a person that has acquired from the obligor the property that is the subject of security; the same applies in this paragraph below) is not subrogated to the claim of the obligee in relation to any guarantors or third-party collateral providers;
第三取得者（債務者から担保の目的となっている財産を譲り受けた者をいう。以下この項において同じ。）は、保証人及び物上保証人に対して債権者に代位しない。
one of the third party acquirers is subrogated to the claim of the obligee in relation to other third party acquirers in proportion to the price of each property;
第三取得者の一人は、各財産の価格に応じて、他の第三取得者に対して債権者に代位する。
the provisions of the preceding item apply mutatis mutandis if one of the third-party collateral providers is subrogated to the claim of the obligee in relation to other third-party collateral providers;
前号の規定は、物上保証人の一人が他の物上保証人に対して債権者に代位する場合について準用する。
between a guarantor and a third-party collateral provider, the subrogation to the claim of the obligee is effected depending on the number of these persons involved; provided, however, that if there are two or more third-party collateral providers, they are subrogated to the claim of the obligee in proportion to the price of each property with respect to the amount which remains after deduction of the share of the guarantor; and
保証人と物上保証人との間においては、その数に応じて、債権者に代位する。ただし、物上保証人が数人あるときは、保証人の負担部分を除いた残額について、各財産の価格に応じて、債権者に代位する。
a person that has acquired from a third party acquirer the property that is the subject of security is deemed to be a third party acquirer, and the provisions of items (i) and (ii) apply thereto; and a person that has acquired from a third-party collateral provider the property that is the subject of security is deemed to be a third-party collateral provider, and the provisions of items (i) and (iii) and the preceding item apply thereto.