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Right Of Pawnage

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Chapter Summary

This chapter on the right of pawnage contains fifteen articles. The presented articles are definition of right of pawnage, creation of the right of pawnage, effect of the right of pawnage over a building extends to the use right of the underlying residential land, duration of the right of pawnage, assignment of the right of pawnage, transfer of pawned property, right of first refusal by the pawnee, sub-pawnage or lease, duties arising from sub-pawnage or lease, duty of safekeeping, loss of pawned property due to force majeure, reconstruction of pawned property and option of pawnage with an agreed duration. The right of pawnage shall be created in writing, and the creation shall be registered at the real estate registration agency. The contract creating the right of pawnage shall become effective upon its conclusion and the right of pawnage shall be effective upon its registration.

Keywords: pawned property; right of pawnage



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