Mortgage on the means of transport

Pledge on means of transport, which have great economic value and high maintenance cost, is effective neither for the owner who utilises it to get income, nor for the mortgagee who must undertake large expenditures for maintenance of the means of transport involved. Therefore, it has been accepted to establish a mortgage on the means of transport, although they are personal property. The mortgage is realized by an inscription on the register to which the vehicle is registered. However, special provisions for the mortgage on the means of transport are limited, it is essential to determine which general provisions must be applied.