Aircraft Mortgage in the Montenegro Law / Hipoteka na vazduhoplovu u pravu Crne Gore

Abstract

A mortgaged property is individually determined real property eligible for liquidation, as well as the ideal part of real estate. On the other hand, a ship or aircraft may be subject to the right of pledge as well. It is a movable property, to which the relevant rules for real property apply. This property is entered into an appropriate register in the same way as real property. The way of acquiring a mortgage is also similar: a mortgage on real property is acquired by its registration in the cadastre of real estate, and a mortgage over an aircraft by its entering in the Register. Similar rules and principles also apply to record keeping. Therefore, the right of pledge over an aircraft is also called a mortgage over an aircraft.
Montenegro has recently adopted several regulations governing the above institute. In this institute “are contained many legal aspects”.
In modern legislation rights over aircraft, ships and other vessels are subject to specific real estate law regulations. The importance of the aircraft for a country’s legal system is best illustrated by the fact that over the recent years a special legal discipline has been developing, a discipline that grew out of Transportation Law - Aviation Law. The same applies to the European Aviation Law. It initially did not enjoy the “favour” of the European Community Law, as was previously the case with the European Transportation Law. However, in recent times there have been different tendencies.
The rule is that to aircraft, as specific objects, a method of registration, similar to that used with land registration is applied. This applies in particular to: registration, deletion, types of registration, registration procedure.