UAE Civil Transactions Law

Article 1351

Book Four: Real Securities · Section Two: Possessory Pledge · Chapter One: Definition and Creation of a Possessory Pledge

1. The neutral custodian may not deliver the pledged property to the pledgor or the pledgee without the consent of the other, as long as the debt is outstanding, and shall have the right to reclaim it if they have delivered it. 2. If the pledged property has perished before its recovery, the neutral custodian shall be liable for its value.

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