What can be the subject of pledge?

What can be the subject of pledge?


According to Article 5 of the law of the Republic of Uzbekistan "On pledge", the subject of pledge can be any property (the enterprise, the building, the construction, the equipment, other production funds, goods, securities, money, etc.), including things and property rights (requirements), except for the things withdrawn from turnover, the requirements which are inseparably connected with the personality of the creditor, in particular, requirements for compensation of harm caused to life or health, about the alimony and other requirements which assignment to other person is forbidden by the law.

According to the pledge agreement, and in respect of the pledge arising on the basis of the law, the law may provide for the pledge of things and property rights that the pledger acquires in the future.

Unless otherwise provided by the contract or the law, the pledge right to property also covers its accessories and inseparable benefits. Benefits, products and income received as a result of the use of the pledged property shall be subject to the right to pledge in the cases provided for in the contract.

The list of objects in respect of which, because of their historical, cultural or other value or for reasons of state security, the use of pledge is not allowed, is established by the Cabinet of Ministers of the Republic of Uzbekistan.

Pledge of separate types of property of citizens on which the address of collecting is not allowed, can be forbidden or limited in the order established by the legislation.