Aircraft Mortgage in Indonesia: Alternative Object of Material Guarantee as a Debt Settlement

Abstract

In the development of material law in Indonesia, it is known both registered objects and unregistered objects that by analogy, registered objects are categorized as immovable objects. In Indonesia, aircraft are being classified as a registered object that can be guaranteed in the form of the mortgage as a debt settlement. Along with the development of law and society, the mortgage regulations are only mentioned briefly in the Indonesian Law of Fiduciary and the Law of Notary Position which state that an aircraft can be guaranteed in the form of a mortgage. However, until recently, any particular regulations regarding aircraft mortgage in Indonesia are not yet available. This research is a normative study that uses historical, statute, and comparison approaches. The problems examined in this study: firstly, how the mortgage as a material guarantee institution in Indonesia is being regulated. Secondly, does the mortgage institution have the potential as an alternative object of material guarantee for aircraft? The result of the study shows that the regulations on aircraft mortgage in Indonesia still refer to the ones in the Indonesian Civil Code. Meanwhile, the institution that has the potential as an alternative object of material guarantee for aircraft is in the form of mortgage because an airplane is a registered object which is analogous to an immovable object. It can be concluded, therefore, that there is a weakness in aircraft mortgage stipulation in Indonesia which may create legal uncertainty and weaken the position of the creditor. Therefore, along with the development of the community and the existence of legal certainty, it is necessary to make an aircraft mortgage law immediately.