Register of Pledges on Movable Property and Rights

Subject matter of the right of security

Law on right of security upon movable objects filed in registry (“Official Herald of the Republic of Serbia”, Nos. 57/2003, 61/2005, 64/2006 – correction and 99/2011-other laws) regulates the pledge, without delivering in possession, of movable objects and rights for the purpose of securing a claim of a creditor, the contract of security, the rights and obligations of contracting parties, the filing of the right of security in the registry, the settling of a creditor secured by pledge, and the termination of the right of security.

Movable objects and rights shall be pledged by filing in the Register of Pledges on Movable Property and Rights which has been instituted at Serbian Business Registers Agency.

Legal relations that are not regulated by the Law on right of security upon movable objects filed in registry (“Official Herald of the Republic of Serbia”, Nos. 57/2003, 61/2005, 64/2006 – correction and 99/2011-other laws) shall be subject to regulations covering obligations (contract and torts) and property law relations, and to other regulations.

Subject matter of the right of security

Subject matter of the right of security is regulated by the provisions of Articles from 9 to 14 of the Law on right of security upon movable objects filed in registry (“Official Herald of the Republic of Serbia”, Nos. 57/2003, 61/2005, 64/2006 – correction and 99/2011-other laws).

In accordance with the provisions of the cited law subject metter of the right of security can be: movable objects, right of claim and other rights, co-ownership share as future objects and rights.

Provisions of the Law on right of security upon movable objects filed in registry (“Official Herald of the Republic of Serbia”, Nos. 57/2003, 61/2005, 64/2006 – correction and 99/2011-other laws) shall not apply:

  • to security upon ships and aircrafts, for which registries are instituted according to special regulations
  • to pledge upon securities for which a registry is instituted according to special regulations for filing third party rights upon securities and
  • to a pledge upon intellectual property rights, while the pledge upon these rights shall be filed in the registry of the institution in charge of intellectual property, i.e.: brand registry, patent registry, small patents registry, registry of models, sample registry, point of origin marks registry, and topographies registry.

Movable Objects

The subject matter of the right of security may be an individually specified object that may be freely disposed of by the pledger, and moveables specified in kind, if the quantity or number, and the manner in which they can be distinguished from other property of the same kind, are stipulated by contract.

Subject matter of the right of security may also be a collection of moveables, such as goods in a designated warehouse or store, the stock serving for the performance of commercial activity and the like, in conformity with the contract of security.

Right of Claim and other Rights

Subject matter of the right of security may be pledger’s right to make a claim against a debtor also if the pledgee is a debtor to the pledger, except for those claims whose transfer is prohibited by law, and those that are connected to a specific person or may not be transferred to another.

Right of security upon a claim shall be acquired by filing in the Register of Pledges on Movable Property and Rights.

The subject of a right of security may also be other property rights that are at free disposal of their owner.

Unless otherwise prescribed, the provisions relating to the pledge upon objects shall apply also to pledging of claims and other rights.

Effect of Pledging a Claim

Until being notified in writing on the taking place of right of security, a debtor of the pledged claim may fulfill his obligation to the pledger. The debtor may be notified of existence of a pledge upon claim either by the pledger or the pledgee.

Beginning with the day of notifying of the existence of the right of security, the debtor of the pledged claim may settle the debt only to the pledgee, and not to the pledger, unless the pledgee has instructed him otherwise.

A certificate from the the Register of Pledges on Movable Property and Rights confirming that the creditor has a security right upon a claim shall be a proof for the debtor of pledged claim that he is to pay the claim to the pledgee.

Co-ownership Share

A co-ownership share of a movable object or a collection of moveables may be a subject of a pledge.

Also an ideal part of property rights may be pledged

Future Objects and Rights

A subject of the right of security may be the objects or rights that the pledger will acquire in the future. The right of security shall of take place when the pledger acquires the right of ownership over the object, and/or the right of claim or some other property right.

Creditor is entitled to request to file in the Register of Pledges on Movable Property and Rights the right of pledge on the future object.

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