Can Leased Property be Pledged?
Article 309 of the Civil Code of 2015 stipulates the pledge of assets as follows:
Pledge of assets is the act of one party (hereinafter referred to as the pledgor) handing over an asset under its ownership to the other party (hereinafter referred to as the pledgee) to secure the performance of an obligation.
Only the owner of the vehicle has the right to pledge their asset (car). Therefore, your friend (the lessee) taking the car to pledge without your consent is an act of legal violation.
Point e, Clause 2, Article 11 of Decree 167/2013/ND-CP stipulates the penalty as follows:
A fine ranging from 2,000,000 VND to 5,000,000 VND for one of the following acts, including: Pledging an asset belonging to another person without a valid authorization from that person to the pledgor.
Thus, your friend taking the rented car to pledge will be fined from 2 million VND to 5 million VND.
Respectfully!
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