Mortgaging of movable properties as security for debts, in light of Law no. 11 of 2016 issued by the Palestinian Presidency

• Main Author: حسين عاهد عيسه
• Format: Article
• Language: Arabic
• Published: Qatar University Press 2021-04-01
• Series: International Review of Law
• Subjects: The insured; Creditor; Electronic record; In-kind guarantees
• Online Access: https://185.37.108.12/index.php/IRL/article/view/1782

In conformity with the Palestinian legislature for the comparative legislative development in the field of in-kind guarantees, taking into account the needs of the current stage in Palestinian life, both economic and social, the legislator enacted a special law in 2016, regulating the unregistered movable property as collateral for debt without transferring the possession to the creditor. Accordingly, most of the transferred assets became a form of official guarantee, through the registration of the guarantee in a special electronic record. While previously, this was only suitable as a mortgage, where the possession of the pledge is transferred to the mortgagee. To the law no. 11 of 2016, the legislator added a new type of guarantee, which will be the main research subject of our specialized study. This will include an explanation of how to conclude the guaranteeing contract and its legal implications. The issue is the legal adaptation of this type of guarantee, and the legal protection of the creditor. This paper was written through an analytical method, and is divided into two sections: The first is about the legal classification of the guarantee contained on the movable property, and the second is about the effects of placing the movable property as a guarantee for a debt. As a result, we reached valuable conclusions through this research, the most important one is that placing the transferred money as a security for a debt can be a new form of official in-kind guarantee, and that the creditor’s legal protection is represented by registering his right in electronic record. However, this is still considered a deficient protection, especially in light of the political situation in Palestine and the division of the regions and responsibilities between the Palestinian Authority and the Israeli occupation.