Science and Education in Karakalpakstan issn 2181-9203 Science Magazine chief editor

 
Kalit so‘zlar: 
Velosport sport turi, velosport sport turiga davlatimizdagi e’tibor, havoni 
ifloslamaydigan texnika, velosportchilarning jismoniy sifatlari, kuch, chaqqonlik, egiluvchanlik, 
velosipedchilarni chiniqtirish. 
Ключевые слова:
 Велоспорт, внимание к велоспорту в нашей стране, экипировка, не 
загрязняющая воздух, физические качества велосипедистов, сила, ловкость, гибкость, 
подготовка велосипедистов. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

---

Science and Education in Karakalpakstan. 2023 №2/1 ISSN 2181-9203 
302 
THE PROCEDURE FOR APPLYING DEBT TO MORTGAGED PROPERTY IN CREDIT 
DISPUTES CONSIDERED IN COURTS 
 
Akimniyazov N.A.
Student of the Higher School of Judges under the Supreme Council of Judges of the Republic of 
Uzbekistan 
 
Summary:
This article highlights the concepts of collateral, general provisions, its types, 
features, role in civil relations, justifications and procedures for foreclosing on mortgaged 
property, as well as practice materials. 
Keywords:
Civil Code, laws, pledge, mortgagee, creditor, security, obligation, resources, 
obligations. 
 
A pledge as a way of securing an obligation has been used since ancient times (from the 8th 
century BC to the 5th century AD), and it was customary to apply it in various ways and in various 
forms. In this case, it is necessary to have a small concept of collateral. 
The word pledge has been used throughout the entire development of mankind, interpreted 
differently in the languages of all peoples and nationalities. Historically, it was understood as the 
property of the borrower transferred to the trust management of the lender, that is, mortgaged 
property. According to article 264 of the Civil Code of the Republic of Uzbekistan, this is a pledge 
in which one person transfers property to another person or the right to it to secure obligations. If 
the borrower fails to fulfill the obligation stipulated by the pledge, the creditor (pledgee) will have 
the right, in accordance with this obligation, to satisfy his claim at the expense of the value of the 
pledged property in the privileged position of the person (pledgee) to whom this property belongs to 
a greater extent than other creditors, in accordance with the procedure provided by law. The pledge 
claim has the right to be satisfied on the above grounds, regardless of the insurance premium for the 
loss or damage to the property seized, in whose favor this property is insured, except in cases when 
the loss or damage to the property seized occurred for reasons for which the pledgee is responsible. 
Security arises in practice in accordance with a contract or a law and is divided into three 
types. A pledge is considered secured when the property subject to pledge is transferred by the 
pledgor to the pledgee. Foreclosure on real estate is a mortgage. A security pledge is considered a 
pledge of rights, the pledgor of the ranking of the right may be the debtor himself, a third person, 
the owner of the property, the person to whom the pledge belongs, and the absence of a pledge of 
the right without the consent of the owner, unless otherwise provided by law. the law or contract 
provided for in article 266. Any property, including objects and property rights (claims), can be a 
collateral thing.
In this case, we are mainly talking about property excluded from circulation, statements that 
are inextricably linked to the identity of the creditor, in particular, claims for compensation for 
damage caused to life and health, alimony claims, as well as other claims that are prohibited by law 
from being presented to another person. Foreclosure on certain types of citizens' property that 
cannot be paid for collection may be prohibited or restricted by law (Article 267 of the Civil Code). 
Securities - can be in the form of forms, certificates or in the form of an entry in bills and 
used in settlements, as well as as collateral for loans. Commercial banks may require foreclosure on 
property as collateral, guarantees or sureties of third parties, provision of insurance company 
policies. Having established that the loan was not used by the client for its intended purpose, the 
bank has the right to return the relevant part of the loan issued by exercising its right to mortgaged 
property or other forms of loan repayment in accordance with the procedure established by law[1].

---