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Pegno

Pegno is a legal term used in civil law to denote a real right that secures an obligation by giving the creditor a claim over a movable asset or, in some cases, over a claim itself. The pledged asset serves as security for the performance of a debt or other obligation, and the creditor’s rights are exercised if the debtor defaults.

In practice, a pegno can attach to movable property or to certain intangible assets, including receivables

Creation of a pegno requires a contract that identifies the pledged asset, the secured obligation, and the

Enforcement generally involves selling the pledged asset to obtain funds to satisfy the debt, with the proceeds

See also: security interest, mortgage, collateral, pledge.

(pegno
su
crediti).
The
pledged
item
may
be
delivered
to
the
creditor
or
kept
with
the
debtor,
depending
on
the
agreement
and
the
type
of
asset.
The
essential
effect
is
that
the
creditor
has
a
priority
claim
over
the
value
of
the
pledged
asset
to
satisfy
the
secured
obligation
before
other
creditors,
up
to
the
amount
of
the
debt.
terms
by
which
the
creditor
may
enforce
the
security.
In
some
cases,
possession
of
the
pledged
asset
is
transferred
to
the
creditor
(pegno
with
possession)
or
retained
by
the
debtor
with
a
non-possessory
pledge
that
allows
enforcement
in
case
of
default.
applied
to
pay
the
creditor
and
any
remaining
balance
returned
to
the
debtor.
A
pegno
is
a
form
of
security
that
is
typically
contrasted
with
a
mortgage
(ipoteca)
on
immovable
property;
it
provides
a
quicker,
asset-based
remedy
for
secured
obligations.