Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF TAJIKISTAN

of March 1, 2005 No. 93

About pledge of personal estate

(as amended on 27-11-2014)

This Law establishes legal, economic and organizational basis of pledge of personal estate and governs the public relations, related.

Section I. General provisions

Chapter 1. Basic provisions about pledge of personal estate

Article 1. Basic concepts

In this Law the following basic concepts are used:

pledge - method of ensuring obligation fulfillment in connection with which the creditor according to the obligation provided with pledge (pawnbroker) has the right in case of non-execution by the debtor of this obligation to have satisfaction from the cost of pledged property mainly before other creditors of person to whom belongs this property (pledger) except the cases established by the law;

the pledger - person having the property right or other corporeal right regarding pledge. The debtor according to the obligation provided with pledge or the third party who is not participating in this obligation can be the pledger;

the pawnbroker - person whose requirements for primary obligation are provided with pledge;

pledged property - any personal estate which is not withdrawn from civil circulation and also the property rights specified in article 4 of this Law, provided as a deposit;

personal estate - the things which are not relating to the real estate including money and securities;

the income from pledge subject - the property received as a result of transactions with subject of pledge or transactions with the income from pledge subject;

- the mortgage notification - the document submitted in paper or in the electronic medium to the registering body containing the main information on pledge for its entering into the Unified state register which is public;

registering body - the judicial authorities operating according to this Law and other regulatory legal acts which obligation is registration, ensuring information compatibility of all registers according to transactions with mortgage providing and maintaining the Unified state register of pledge in the territory of the Republic of Tajikistan;

the unified state register of bail bonds (further the Unified state register) the information database of bail bonds which is created and kept in relevant organs of justice on registration of agreements of pledge;

the registered pledge - the pledge which underwent the procedure of registration according to Chapter 2 of this Law;

the managing director of pledge - person designated by the pawnbroker for use and the order of pledged property from his name and the solution of any related question;

- receivables - the amount of the debts which are due to person, received as a result of economic relations with physical persons and legal entities;

- mixed goods - the inseparable goods connected to other goods, at the same time losing the identification physical signs in ready-made product;

- the developped goods - the razdelimy goods connected to other goods, which at the same time are not losing the identification physical signs in ready-made product.

Article 2. Legislation of the Republic of Tajikistan on pledge of personal estate

The legislation of the Republic of Tajikistan on pledge of personal estate is based on the Constitution of the Republic of Tajikistan and consists of the Civil code of the Republic of Tajikistan, the laws of the Republic of Tajikistan, this Law, other regulatory legal acts of the Republic of Tajikistan, and also the international legal acts recognized by the Republic of Tajikistan.

Article 3. Subjects and bases of emergence of pledge of personal estate

1. Subjects of the mortgage relations are pledgers and pawnbrokers which can be the state, physical persons and legal entities.

2. Credit institutions perform the transactions connected with pledge according to this Law and other laws.

3. Pledge arises based on the law or the agreement (contractual pledge) signed between the pledger and the pawnbroker according to provisions of the Civil code of the Republic of Tajikistan and this Law. Such agreement can be either the certain doctor, or part of the agreement leading to emergence of the obligation provided with pledge.

4. Bail bonds arise in the presence of at the same time following conditions:

1.) pledge agreement;

2.) possession of the pledger of the property right or other corporeal right regarding pledge;

3) other bases, stipulated by the legislation Republic of Tajikistan.

Article 4. Subject of pledge of personal estate

1. The personal estate belonging on the property right or other corporeal right and not withdrawn from civil circulation or the right which can be aloof according to the procedure, established by the legislation of the Republic of Tajikistan can be subject of pledge.

2. The property rights belonging to the pledger which can be aloof from property can be subject of pledge, included leasehold interests, the right to share in common joint property, debt requirements, the rights of receipt of benefit from things which do not belong to the pledger on the property right, the property rights following from intellectual activities and equated to it, the rights to securities in the form of record and other rights (requirements) following from contractual commitments. The right with certain effective period can be pledge subject only before the expiration of its action.

3. As subject of pledge also things or the rights which will arise in the future, including future inventories of the made products of the pledger or receivables without any limit can act. Pledge concerning property which will arrive in property (or ownership) the pledger in the future, arises from the moment of acquisition of rights by the pledger of the rights to such property.

4. If other is not provided by the pledge agreement, the main thing which is pledge subject is considered pledged together with its accessories as a unit. Part of property which Section in nature is impossible without change of its appointment (indivisible thing) cannot be independent subject of pledge.

5. The things withdrawn from circulation, the requirement inseparably linked with the identity of the debtor, in particular, of the requirement about the alimony, indemnification caused to life or health and other rights which concession is forbidden by the legislation of the Republic of Tajikistan cannot be subject of pledge.

6. The government of the Republic of Tajikistan can determine the register of objects which cannot be pledge subject owing to historical, cultural value or important for ensuring state security.

Article 5. Right of provision of property and rights as a deposit

1. The right of provision of property as a deposit belongs to the owner or the owner a lot of corporeal right, or to person, in property (or ownership) which this property will arrive in the future, behind the withdrawals established by the legislation of the Republic of Tajikistan.

2. In case of pledge of the rights by the pledger there can be only person who will belong the pledged right, behind the withdrawals established by the legislation of the Republic of Tajikistan.

The person having right to use, having the right to pledge the right to use including the lease right which can be pledge subject only with the consent of the lessor if the law or the agreement do not provide other.

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