OWNERSHIP RIGHTS OBJECT TO FIDUCIARY GUARANTEE AS COLLATERAL FOR DEBT RESPONSIBILITY
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Abstract
Referring to Law No. 42/1999, the concept of the fiduciary is part of the guarantee (collateral) of debt that is material in nature, but with the condition that the ownership rights to the object of the fiduciary guarantee are transferred to the fiduciary recipient remain in the control of the owner of the thing. The concept of fiduciary as a guarantee creates contradictory norms because the property rights of the fiduciary object are with the fiduciary recipient. Still, control of the thing remains with the fiduciary giver, so it is not clear who the owner of the fiduciary object is as a legal consequence of transferring ownership rights to the fiduciary thing. Therefore, the owner of the fiduciary object as collateral for debt repayment needs to be investigated. This research is normative legal research using a statutory and historical approach. The study results stated that the transfer of ownership rights to the fiduciary object was carried out within the collateral framework to settle certain debts. It has implications for distinguishing property rights over fiduciary things, distinguished by juridical and economic property rights. The juridical property rights of the fiduciary object are in the hands of the fiduciary recipient, who owns the fiduciary thing. Meanwhile, the fiduciary object's economic rights remain in the fiduciary giver's control. The fiduciary recipient's juridical right is to sell the fiduciary thing when the fiduciary giver defaults. During the fiduciary assignment, the fiduciary giver has the position of the borrower to use the fiduciary object.
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