In Kosovo, as per the 2009 Law on Property and Other Real Rights, it is possible to create both possessory and non-possessory pledges over assets. This includes tangibles, intangibles, present and future assets. However, in order for a non-possessory pledge to be effective and enforceable, it had to be registered by way of notification with the Pledge Registry. This was onerous as there were many formalities to be complied with, and the notification had to be physically filed with the pledge registry. In 2012, Kosovo enacted a law on the Registration of a Pledge of Movables. This provided for an online, notice-based register which launched in 2014. This facilitated registration of non-possessory pledges, which must include an executed pledge agreement, a description of the asset in question and of the obligation it will secure. Overall, the law is slightly fragmented as there is no single piece of legislation governing security over movable assets. Rather, secured transactions are governed by the 2009 Law on Property, and the registration requirements of those property rights are governed by the 2012 Law on registration.

Click here to access the 2009 Law on Property and Other Real Rights (English)

Click Here to access the Law No.04/ L-136 on Pledge Registration for Movable Property (English)

Click here to access the Pledge Registry

Further Reading: