Binding of Third Party Guarantee Objects in Financing Agreement in PT Multindo Auto Finance in Padang City

Abstract

Financial institutions both banks and non-banks play an important role. Financial Institutions is one non-bank institution that is developing rapidly. Consumer financing is one form of financing institutions that is often encountered. The financing institution in practice uses Guarantees provided by the debtor are not entirely the debtor's personal property, but are collateral which is the property of third parties submitted as collateral. Default is one that can occur during the ongoing financing and a third party as the owner of the Guarantee can also be made compared to an increase in default. In the financing agreement the parties only consist of creditors and debtors. The formulation of the problem in this return is how the binding of third parties as collateral in spending and how legal protection to third parties The research method used is a sociological juridical method, namely discussing the problem by looking at applicable legal norms then discussing with legal facts that in the field. The study was conducted at PT Multindo Auto Finance Kota Padang. Binding of objects belonging to third parties is done with a letter of release of vehicle ownership rights and financing agreements are only signed by creditors and debtors. One of the legal protection for guarantees is through fiduciary. Decision of the Constitutional Court Number 18 / PUU / XVII / 2019 regarding the implementation of fiduciary executions that were not voluntarily approved by the debtor, the procedure must be carried out to execute a court decision with permanent legal force. Protection of the owner.