The non-possessory security lien is a form of guarantee for obtaining credit, which however allows the lender to retain possession of the asset committed to the creditor. In general, committing a valuable asset to obtain a loan is a very common way to obtain a loan without a pay slip, ie when the applicant cannot present the bank with a stable income certification. Through the pledge, the object used as collateral is however kept by the creditor, until the debtor has repaid a loan and interest. With the non-possessory pledge, on the other hand, the committed good remains available to the debtor.
This form of pledge is now addressed to companies that want to guarantee the credits obtained for their activities, including credits granted to third parties, if they involve business operations. The assets that can be committed must also be used for business purposes, but cannot be registered movable assets. The peculiarity of the non-possessory pledge is that these assets remain available to the entrepreneur, who can therefore continue to make adequate use of it, despite having obtained a loan. However, during the loan period, their economic destination cannot be changed.
The non-possessory pledge is activated at the signing of the specific contract. This document must contain the name of the creditor and the debtor, in addition to the name of the third party who grants the asset as security. Furthermore, a detailed description of the asset offered as guarantee must be entered, the amount of credit granted and the maximum amount that can be guaranteed with that pledge. At this point, the pledge is legally valid.
Unlike what is thought, the non-possessory security lien does not need, to be valid, the registration in the appropriate register of pawns not owners at the Revenue Agency. However, registration is necessary for opposition to third parties, but above all for opposition in the event of enforcement, ie when the creditor, believing that he has not received the appropriate reimbursement, intends to carry out the expropriation of the committed asset.
By registering, you have the right to oppose this act legally. This provision is included in the law of 30 June 2016 n. 119, which converts the so-called “Banks decree” into law.