Article 309. The property to which the rights of the pledgee of the Civil Code of the Republic of Kazakhstan apply

     1. The rights of the pledgee (the right of pledge) to the thing that is the subject of pledge extend to its accessories and to the inseparable fruits, unless otherwise provided by the contract or legislative acts.

     In cases stipulated by the contract or legislative acts, the right of pledge may extend to separable fruits, products and incomes obtained as a result of the use of the pledged property, as well as subsequently acquired assets and replaced assets.

     If the subject of the pledge is movable property, the right of pledge extends to separable fruits, products and income (including subsequently acquired assets and replaced assets) obtained as a result of its use, unless otherwise provided by the contract.

     At the same time, the right of pledge extends to separable fruits, products and incomes (including assets acquired subsequently and replaced assets) only to the extent of the claim that it does not provide with mortgaged movable property at the time of its actual satisfaction.

     2. In the case of a mortgage of an enterprise or other property complex as a whole, the right of pledge extends to all its property, movable and immovable, including claims and exclusive rights, including those acquired during the mortgage period, unless otherwise provided by legislative acts or an agreement.

     3. Mortgage of a building or structure is allowed only with simultaneous mortgage under the same contract of the right to the land plot on which this building or structure is located, or to a part of this plot functionally providing the mortgaged object.

President    

Republic of Kazakhstan     

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