What is the ruling regarding the value of the freed mortgaged property if the manumission is deemed effective?

Primary text

If the pledgor was solvent at the time of manumission, the value of the freed slave is taken and placed as a substitute pledge for the original item. This is because the pledgor nullified the security right without the pledgee's permission, thus rendering him liable for the value, similar to if a third party had destroyed it. The value replaces the original item as the pledge. If the pledgor was insolvent, the value remains a debt upon his estate (dhimmah). If he later becomes solvent before the debt matures, the value is taken from him and made a pledge, unless he chooses to pay the debt immediately, in which case no substitute pledge is needed. If he becomes solvent after the debt matures, he is only required to pay the debt itself, as his obligation is discharged for both the debt and the substitute value. The value is calculated based on the slave's worth at the moment of manumission, as that is the moment of destruction/deprivation.