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Rulebook on the Content of the Mortgage Registry on Movable Property and Rights and Documentation Required for Registration (“Official Gazette of RS“71/2019)

29. November 2019. | Author: Marija Tasic

Rulebook on the Content of the Mortgage Registry on Movable Property and Rights and Documentation Required for Registration (“Official Gazette of the RS” 71/2019 – hereinafter: ,,the Rulebook“), which entered into force on 12th of October, 2019, is harmonized with the new Law on Amendments to the Law on Mortgage on Registered Movable Items (“Official Gazette of RS” 31/2019 – hereinafter: ,,the Law“  ), which entered into force on 7th of May, 2019.

The biggest novelties of this Rulebook are the registration of new types of contracts and enabling electronic registration, and its implementation will start on the 1st of January, 2021, when the technical conditions shall be created, i.e. when the software solution used in the work of the registry is improved.

Two types of contracts that can be registered, in accordance with the Law, are the sale contract of movable property with the retention of title to the full payment of the price and pledge agreement with the transfer of things into possession. The Article 16 of the Rulebook also regulates the documentation required for deletion of the sale contract.

Article 3 of the Rulebook now also enables registration of data relating to the sum of movable items and it stipulates that the register should contain only a general description and the place where the items are located.

Regarding electronic filing, Article 20 of the Rulebook stipulates that the filling in and filing of the electronic application shall be done through the user application for receiving electronic applications, which ensures the receipt of electronic documents, and the signing and verification shall be carried out in accordance with the law governing registration procedure before the Serbian Business Registers Agency.

For any additional questions and explanations, please contact the Tasic & Partners team on +381 116302233 or by email at office@tasiclaw.com.