Exercising the subjective right of mortgage is that stage of the juridical report between the hypothec creditor and the mortgage debtor in which the mentioned subjective right, evidently, manifests its essence, namely: satisfying the mortgage creditor’s loan from the value of the mortgaged property, with preference concerning the other creditors, including the state. In this context, the elucidation of the conditions of exercising the subjective right of mortgage and the analysis of these conditions present a special importance in the process of interpretation and applications of the provisions of the law concerning mortgage.