LEGAL STATUS OF THE OWNER OF A PLEDGED PROPERTY IN LEGAL RELATIONS IN MORT-GAGE

Abstract

Overall legal regulations of mortgage, as a form of security, represent one of the key factors in unimpeded functioning of pledgee-pledgor relationship, both between natural persons and legal entities. In order to raise nation- al mortgage law to European or world standards, it is primarily necessary to have adequate legal mechanisms incor- porated in the national legislation, to achieve a balanced status between a pledge and a pledgor in legal relations in mortgage. Considering that contemporary legislations treat mutual rights and obligations of primary subjects of this legal relation in such a way so as to primarily tend to protect the interests of a pledgee, a question arises if the status of a pledgor, as the owner of a pledged property has been sufficiently secured. This paper represents an analysis of the legal status i.e. rights and obligations of a pledgor in legal relations in mortgage, based on relevant legislation of Bosnia and Herzegovina and of the countries in the region, as well as on adequate resources.