ingójelzálog

Ingójelzálog is a Hungarian legal term referring to a pledge or lien on movable property. It functions as a form of security interest, allowing a creditor to secure a debt or obligation with specific movable assets owned by the debtor. Unlike a mortgage which typically applies to real estate, ingójelzálog pertains to items such as vehicles, machinery, inventory, or even financial assets.

The establishment of an ingójelzálog typically requires a contract between the creditor and the debtor, clearly defining the pledged assets and the secured debt. Registration of the ingójelzálog is often necessary, usually with a public registry or authority, to ensure its validity against third parties. This registration provides public notice of the creditor's claim on the specified movable property.

In the event of the debtor's default, the creditor holding the ingójelzálog has the right to enforce their security interest. This usually involves taking possession of the pledged movable property and selling it to satisfy the outstanding debt. The specific procedures for enforcement are governed by Hungarian law, including provisions for notice to the debtor and the manner of sale. Ingójelzálog plays a significant role in commercial transactions and lending, providing a mechanism for creditors to mitigate risk when extending credit against movable assets.