Legal Protection of Debtors for Fiduciary Collateral Objects Whose Debts Have Been Paid Off Based on the Fiduciary Guarantee Law and Government Regulation Number 21 of 2015
DOI:
https://doi.org/10.57096/edunity.v3i7.277Keywords:
Legal Protection, Fiduciary GuaranteeAbstract
Fiduciary Guarantee is an accessory agreement that follows the principal agreement it guarantees. If the principal agreement ends, the Fiduciary Guarantee agreement also ends. However, the recording of the encumbrance and granting of the Fiduciary Guarantee contained in the Fiduciary Guarantee Register Book at the Fiduciary Registration Office can be crossed out or deleted (roya) if requested by the Fiduciary Beneficiary (Article 25 paragraph (3) of Law No. 42/1999 on Fiduciary Guarantee). Legal protection is provided in the event of full repayment or repayment of the debt secured by the Fiduciary Guarantee Object. Based on Article 25 paragraph (1) of Law No. 42/1999, this is one of the reasons for fiduciary abolition. The Fiduciary is obliged to notify the abolition of the Fiduciary Guarantee to the Fiduciary Registration Office so that the Fiduciary Guarantee can be removed from the Fiduciary Guarantee Register Book. The nature of the Fiduciary Guarantee depends on the existence of the receivables whose repayment is guaranteed. If the receivables are written off due to debt repayment or disposal, the related Fiduciary Guarantee is automatically deleted. If the Creditor does not perform the deletion, the Debtor may take legal action, either through litigation or non-litigation. An obstacle to legal protection for the Fiduciary is if the Fiduciary does not complete the Fiduciary Guarantee Certificate online. Law No. 42/1999 and its implementing regulation, PP No. 21/2015, do not include sanctions for the Fiduciary or its representative if the Fiduciary Guarantee Certificate is not done. This results in no legal certainty over the object of the Fiduciary Guarantee if the Fiduciary does not perform it, because the object used as collateral remains registered with the Ministry of Law and Human Rights and the Fiduciary Guarantee Certificate is still considered valid and cannot be re-registered in accordance with Article 17 paragraph (2) of Government Regulation No. 21 of 2015.
Published
Issue
Section
License
Copyright (c) 2024 Wennie Melannie, Faisal Santiago
![Creative Commons License](http://i.creativecommons.org/l/by-sa/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under aCreative Commons Attribution-ShareAlike 4.0 International (CC-BY-SA). that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.