Certain aspects of collateral as a method of securing the fulfillment of obligations under a credit agreement

Abstract

The article is devoted to the analysis of the provisions of the Civil Code of Ukraine and the Law of Ukraine «On Pledge», which establish the definition of pledge, determine the types of pledges and outline the range of objects that can be the subject of pledge. The article emphasizes the somewhat different approach of the aforementioned regulatory legal acts to the application of the term used to designate the subject of collateral.
In the author’s opinion, according to the subject of the pledge, such types of pledges as mortgage and pledge should be distinguished. Pledge of goods in circulation and processing, property rights and securities should be considered as subtypes of pledge of movable property, the legal regulation of which is carried out on the basis of general provisions on pledge, taking into account the specifics of this property as the subject of pledge. The pledge of an unfinished construction object and a future real estate object should be considered as subtypes of mortgage, which is regulated by the Law of Ukraine «On Mortgage» taking into account the requirements established by the Law of Ukraine «On Guaranteeing Property Rights to Real Estate Objects to be Constructed in the Future». The pledge of these types of property is directly classified as a mortgage in the Civil Code of Ukraine.
As a result of the research, the author comes to the conclusion that the duality of the legal regime is inherent in intellectual property rights, corporate rights, land plots, and securities as objects of collateral legal relations, which is determined by the simultaneous application of the norms of civil law on pledge and the norms that regulate the legal regime of the specified objects of pledge legal relations. This fully applies to collateral as a way to ensure the fulfillment of obligations arising from a credit agreement.