On basis of which document is the registration of mortgage/lease/financial pledge rights made?
arrow_drop_down_circle
Registration of mortgage, leasing, financial pledge rights on the movable and intangible property is made based on the agreement and/or notification submitted by the applicant.
In what form should be the registration document submitted?
arrow_drop_down_circle
The signatures of the parties on the registration document must be certified by a notary if the parties participant in the transaction sign the agreement in the presence of an authorized person in the registering body, or by an authorized administrative body, and a qualified electronic signature and/or a qualified electronic stamp must be affixed to the electronic document, in accordance with the Law of Georgia "On Electronic Document and Trusted Electronic Services".
Is the interested party obliged to inform the other party about the registration if the registration of the mortgage/lease right is carried out on basis of a notification?
arrow_drop_down_circle
On bases of the notification the interested person (creditor or debtor) who submits an application with request to register the mortgage/leasing right, make an amendment in the registered right or terminate the registered right, is obliged to inform the other party about the registration information within one week after the registration.
Is the Public Registry responsible for the authenticity of the submitted notification and data?
arrow_drop_down_circle
The Public Registry is not responsible for the accuracy of the notification and data submitted for the registration of the mortgage/lease/financial pledge right on the movable and intangible property, on making amendment in the right or/and termination of right's registration.
What is the deadline for the registration body to make a relevant decision in case of submitting an application for the registration of the right on movable and intangible property?
arrow_drop_down_circle
The registration body is obliged to make an appropriate decision immediately, upon the registration of the application for registering the right on movable and intangible property.
In what case is an extract from the Registry of Movable and Intangible Property Rights made?
arrow_drop_down_circle
An extract from the registry of rights on movable and intangible property is made only in case of submission of an application for the preparation of an extract.
What data is shown in the extract from the Registry of Movable and Intangible Property Rights?
arrow_drop_down_circle
An extract from the Registry of Movable and Intangible Property Rights is prepared for movable and intangible property on bases of the unified database of rights, public legal restrictions, Tax lien/Mortgage, Entrepreneurs and Non-Entrepreneurial (Non-Commercial) Legal Entities and Debtors' Registry and presents the data, valid in these registries at the time of its preparation.
On basis of which data is an extract on Movable and Intangible Property Rights prepared from the Registry?
arrow_drop_down_circle
An extract from the Registry of Movable and Intangible Property Rights is prepared on basis of the identification data of only one registration entity, during the preparation of information on mortgage and financial lien rights, this entity is the owner, and in the case of leasing - the lessee.
Where is the right of pledge registered over the shares of the limited liability company and the special limited partnership?
arrow_drop_down_circle
The right of mortgage over the shares of the Limited Liability Company and the limited partnership is registered in the Registry of Entrepreneurs and Non-Entrepreneurial (Non-Commercial) Legal Entities.
Which property cannot be leased?
arrow_drop_down_circle
The Civil Code provides a list of properties that may not be the subject of a lease. These are: money, securities or shares in the entrepreneurial community.
Who is obliged to register the buyer as a mortgagor in case of alienation of the subject of the mortgage?
arrow_drop_down_circle
In case of alienation of the subject of the mortgage during the registered mortgaging, the mortgagor and the purchaser jointly bear the obligation of registration of the purchaser as a mortgagor in the public registry, in case of its non-fulfillment they are jointly liable for any damage caused due to failure of this obligation.
Can the one and the same property be mortgaged several times?
arrow_drop_down_circle
One and the same property can be mortgaged several times. The sequence of mortgage rights is determined in accordance with the time of submission for registration.
How soon will the technical defect in the registered data be corrected?
arrow_drop_down_circle
The technical defect in the registered data will be corrected within 1 working day.
Who can be the party of the financial mortgage?
arrow_drop_down_circle
The parties of a financial mortgage (mortgagor or mortgagee) can be a public institution, the National Bank of Georgia, a foreign central bank, an international financial institution, a representative of the financial sector, a local or foreign financial institution, an investment fund, a central contractor, a settlement agent, a clearing facility. If the afore indicated persons represent the parties to the financial mortgage agreement, the other party of the financial mortgage (mortgagor or mortgagee) can be an individual (except for a physical entity), including a partnership, an organizational entity without the status of a legal entity.
In what form and procedure should the financial mortgage registration documents be submitted?
arrow_drop_down_circle
It is not necessary to take any formal actions towards the financial mortgage agreement, including notarization and translation into Georgian language. The financial mortgage agreement does not require the authorized person of the Agency to certify the authenticity of the signatures of the transaction parties.
The registration document of the origin/change of the financial pledge is a notification issued by the creditor, a text file shall be attached to it, in which the required number of the financial mortgage must include identification number of the microfinance organization and the money-lending entity with 9-digits and the serial number of the contract.
Standard: XXXXXXXXX_YYYYYYYYY (Max. Number of symbols - 30)
XXXXXXXXX - Owner's (microfinance organization and lending entity identification number) identification number.
YYYYYYYYY - Contract number; capital letters of the Latin alphabet are allowed (ABC), Numbers (0-9), slash (/), dash (-), bottom dash (_), full stop (.).
Does an increase, decrease or replacement of the subject of a financial mortgage lead to the conclusion of a new financial mortgage agreement?
arrow_drop_down_circle
Increasing, decreasing or replacement of the subject of a financial mortgage, if this is envisaged by the financial mortgage agreement, does not lead to the conclusion of a new financial mortgage.
Which financial mortgage is a subject of registration in the public registry?
arrow_drop_down_circle
A financial mortgage subject to a credit request represents the subject to registration in the public registry.
