Pledging movable property subject to registration while it remains in the possession of the mortgagor

Volume 20 , Issue 3 , December 2019 , Pages 439-468

Authors

سامان فوزي عمر 1

1 جامعة التنمية البشرية/ العراق-السليمانية

DOI logo 10.17656/jzsb.10923

Keywords

Abstract

This study deals with the mortgaging of immovable property subject to registration with
remaining in the hands of mortgagor, and this hasn’t been a subject to Iraqi Civil Law, which
divided the mortgage into two parts: the insurance mortgage that is applied on property only and
possessory mortgage, which can be achieved only by transferring the possession of mortgaged from
the mortgagor to the mortgagee in the hand of justice. Although the Iraqi legislator and through
some specific laws tried to cope with the economical and credit developments and allowed to
mortgage some movables properties that are subjective to registration such as ships, machines with
the remain of its possession of the mortgagor, but he/she kept silent on some other private movables
in the same way, such as cars and vehicles. Thus, we tried in this research to find general provisions
to mortgage the movables subject to registration, depending on the Iraqi legislator to amend the
Civil Code to develop some general provisions for this type of mortgage as some other countries
did. We also have proposed amending the Iraqi Traffic Law to allow the registration od cars and
other vehicles, while maintaining their possession with the owners, to achieve the objective
insurance, which is the mortgagor credit and maintain the protection of the mortgagee.

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  • Published at26 December 2019

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