LEGAL PROTECTION OF SECURITY GOODS HELD BY THE CREDITOR BASED ON THE DEBT ACKNOWLEDGMENT DEED ACCORDING TO LAW NO. 4 OF 1996 CONCERNING MONITORING RIGHTS

Abstract

The primary purpose of this study is to (1) determine, interpret, and evaluate the extent to which the Deed of Debt Acknowledgment, in accordance with Law no. 4 of 1996 pertaining to Mortgage Rights, provides legal protection for creditors' collateral. (2) processes for ensuring certificates of land title as security for debt. A subset of normative legal research, this study investigates potential solutions to specific issues by analyzing existing legal frameworks. Legal materials used in this research came from a variety of sources, including primary, secondary, and tertiary sources, with research methods including document and literature reviews. The research findings indicate that (1) According to the provisions of Law Number 04 of 1996, which deals with Mortgage Rights on Land and Objects Related to Land, the interests of the creditor, who holds the mortgage rights, and the debtor, who gives them, are on an equal footing. However, there are juridical consequences for a bias in favoring creditors when it comes to providing protection. Mortgage rights holders are meant to be able to easily prove their rights by being issued a certificate during registration activities. Mortgage rights holders are meant to be able to readily prove their rights by issuing a certificate during registration activities.