Author(s): Lyubov F Netishinskaya, Tatiana A Mokhovaya, Elena U Ivanova
This study investigates the new clauses of the Civil Code of the Russian Federation in regards to pledges. Special attention is paid to the investigation of legislative provisions regarding the content of the pledge agreement with emphasis placed on the analysis of previous and new civil law regulations on the content of the pledge agreement. The study described essential conditions of the pledge agreement that are of particular importance, since they establish that the pledge agreement cannot be concluded until the parties reach an agreement in regards to each said condition. The study states that it is currently possible to register a pledge of property that is not real estate by registering a notice of pledge in the register of pledges of real estate; emphasis is placed on the fact that in relations with third parties, the pledge holder has the right to refer to his or her right of pledge only after the pledge notice is registered and recorded. The study also features a comparison of liens in Russia, CIS countries and Western European countries.