Proprietary Security Rights in Movables—European Developments: A Spotlight Approach to Book IX DCFR
Keywords:proprietary security rights in movables, secured transactions, Book IX Draft Common Frame of Reference (DCFR), notice-filing, functional approach, registration of security interests, retention of title
The article throws some light on how the law on proprietary security rights in movable assets might move forward in Europe. It does so by spotlighting a handful of core features of Book IX of the Draft Common Frame of Reference (DCFR), which could be used as a model for law reforms related to secured transactions on national or European level. It is argued that the DCFR approach could achieve a number of practical advantages when compared to existing national laws in this area, although the improvements brought about may be different from the perspective of individual countries.