Some Problems of Legal Regulation of Pawning
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Abstract
Legal regulations of the clause /paragraph/ 18 of Civil Code of the Republic of Lithuania establish the law described in article 198 as the creditor’s (pawn holder’s) right to receive the satisfaction to his/her complaint or requirement from the value of the mortgaged property prior to other creditors if the debtor fails to fulfil the obligation guaranteed by the mortgaging excluded the exceptions provided in Lithuanian laws. This institute belongs to modes of obligation guarantees, forming additional liability relations which cannot exist without obligation. Civil Code legal regulations establish the mortgage principles of Ancient Rome lawyers Gayus, Papiniyan, Ulpiniyan, Marciyan, Paul and etc. which grant participants of credit relations sufficiently wide range of possibilities to realise their plans and intentions in economic activities but irrepressibly developing economic relations cause approval of new legal standards also. The priority right of the pawn holder established in laws as compared to all other creditors crams aspirations of mortgage subjects into strictly defined legal frame. Besides new possibilities, new legal regulations caused many problems to courts practically applying legal norms to a considerable degree and to meny persons which intend to take over rights and duties of subjects of legal mortgage relations with their actions as well.
Since 1964 when the Civil Code was adopted, its paragraph 194 has given pawn and other duty guarantee like hypothec which has been named in the VI-VII centuries BC in laws of Athens archon Solonos for the first time mortgage developed in the Ancient Rome when property was left in the debtor’s possession. Till October 6. 1992 when Hypothec law of the Republic of Lithuania was passed, it has been only declarative statement without any juridical form. On June 10. 1997 this law was changed and passed together with Mortgage law on personal estate. Both important legal acts were initially applied in practice on April 1. 1998. Their standard relation with Civil code points of law is described in this work.
The article analyses if the definition of the mortgage corresponds to our spell, if all operating laws are really applied, gives some competition and incompatibility cases of legal regulations, problems of creditor’s rights realisation and etc.
Since 1964 when the Civil Code was adopted, its paragraph 194 has given pawn and other duty guarantee like hypothec which has been named in the VI-VII centuries BC in laws of Athens archon Solonos for the first time mortgage developed in the Ancient Rome when property was left in the debtor’s possession. Till October 6. 1992 when Hypothec law of the Republic of Lithuania was passed, it has been only declarative statement without any juridical form. On June 10. 1997 this law was changed and passed together with Mortgage law on personal estate. Both important legal acts were initially applied in practice on April 1. 1998. Their standard relation with Civil code points of law is described in this work.
The article analyses if the definition of the mortgage corresponds to our spell, if all operating laws are really applied, gives some competition and incompatibility cases of legal regulations, problems of creditor’s rights realisation and etc.
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Please see Copyright and Licence Agreement for further details.
