Article 14. Validity period of registration of pledge of movable property of the Law On Registration of Pledge of Movable Property

Home / Laws / Article 14. Validity period of registration of pledge of movable property of the Law On Registration of Pledge of Movable Property

1. Registration of a pledge of movable property is valid until the pledge is terminated.

2. The pledgor, who has fulfilled the obligation secured by the pledge, has the right to demand cancellation of the pledge entry in the register of pledge of movable property. At the request of the pledgor, the pledgee is obliged to submit to the registering authority or the State Corporation a written application and the necessary documents confirming the fulfillment by the pledgor of the obligations secured by the pledge. In case of non-fulfillment or untimely fulfillment by the pledgee of these obligations, the pledgor has the right to demand compensation for the losses caused to him.

This Law establishes the rules for registering the pledge of movable property in order to realize and protect the rights of individuals and legal entities with legitimate rights to this property.

The Law of the Republic of Kazakhstan dated June 30, 1998 No. 254.

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