The amendments to the Law on Pledge on Movable Property and Rights Entered into Register

On January 1, 2021, a bill amending and modifying the Law on Pledge of Movable Assets in the Pledge Register (“Official Gazette of RS”, No. 31/2019) entered into force and its legal application began,  thus it is now possible to register two types of contracts in this Register: the pledge contract with possession delivery and the sale contract with the retention of owner title.

 Amended provision of Article 4 stipulates that the creditor acquire the pledge by handing over movable things in his possession or in another manner specified by law, and may request entry of his lien in the Pledge Register in order to ensure the priority in debt settlement.

Another important novelty is the right of retention of title from the contract of sale of movables with retention of title to secure the seller’s claim until payment of the price in fully executed.

The submission of electronic registration applications shall be possible starting from July 1, 2022.

We recommend you finding more details on this subject in one of our previous texts via the link:

https://gsm.legal/sr/blog/zakon-o-izmenama-i-dopunama-zakona-o-zaloznom-pravu-na-pokretnim-stvarima-i-pravima-upisanim-u-registar/