The Urgency of Reconstructing the Regulation of Parate Execution of Fiduciary Security Objects
Abstract
This study aims to analyze and identify the urgency of reconstructing regulations on parate execution of fiduciary collateral, particularly after Constitutional Court Decision Number 18/PUU-XVII/2019, from philosophical, juridical, and sociological perspectives. The method used in this study is normative legal research using a legislative approach, a case approach, and a conceptual approach. Based on an in-depth philosophical analysis, it was found that philosophically, the urgency of reconstructing the regulations on parate execution of fiduciary collateral arises from the need for a sense of justice for the parties and legal certainty for creditors to execute collateral objects quickly and efficiently in the event of default. Juridically, after Constitutional Court Decision Number 18/PUU-XVII/2019, there has been a lack of clarity or vagueness (vage normen) in the norms, due to the requirement of a "default agreement" that must exist before execution can take place. Sociologically, the ambiguity of the regulations on parate execution has resulted in inconsistent practices in courts regarding the execution of fiduciary collateral.
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DOI: http://dx.doi.org/10.18415/ijmmu.v13i3.7355
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