2011. Privileged rights which are not subject to registration take precedence according to their respective rank.
Rights subject to registration and which have been registered within the prescribed delays, take effect according to the provisions contained in the preceding Chapter.
Except the above cases and the case of article 1977, real rights rank according to the date of their registration.
If however 2 titles creating hypothec be entered for registration on the same day they rank together.
If a deed of purchase, and a deed creating a hypothec, both affecting the same immovable, be entered on the same day they rank according to the date of their execution.