The Directorate General for Legal Certainty and Public Faith has ruled on an appeal regarding the negative classification of a deed for a non-possessory pledge over electric bicycles. The resolution emphasises that a pledge must adhere to the principles of accessoriness and speciality, prohibiting a single liability from guaranteeing different obligations (such as interest and service fees) without clear delimitation (Articles 9 of the Mortgage Law and 51 of the Mortgage Regulations).
For companies using movable property security (either as pledgors or creditors), the ruling requires extremely precise contractual drafting. It is not valid to use a single security to cover both a loan principal and commissions from independent service contracts, as this violates the principle of registry speciality. Parties must define with exactitude the scope, content, and specific pecuniary obligations that the pledge intends to secure to avoid the refusal of registration in the Movable Property Registry.
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