The Concept of Ownership of Fiduciary Security Objects in Banking Law Based on the Principle of Legal Certainty

Abstract

This study examines the juridical implications of the inconsistency between the ownership data of fiduciary collateral objects as evidenced by material proof of ownership (sale and purchase receipt) and formal proof of ownership (Vehicle Ownership Certificate/Buku Pemilik Kendaraan Bermotor (BPKB)) on legal certainty within the electronic fiduciary registration system. Furthermore, this study formulates a reconstruction of the concept of ownership capable of harmonizing both forms of evidence to achieve balanced legal protection for the parties involved. This research is a normative legal study employing a prescriptive-analytical approach using statutory, conceptual, and case approaches. The legal materials consist of primary, secondary, and tertiary legal materials. The findings regarding the first research problem demonstrate that the AHU Online System, which operates under the principles of administrative passivity and self-assessment, verifies only formal validity without providing substantive verification of the chain of ownership. Consequently, the Fiduciary Security Certificate remains vulnerable to third-party disputes, double financing, and obstacles in enforcement. These conditions are aggravated by the failure of Notaries and Banks to jointly fulfill the prudential principle, resulting in legal certainty that remains formal and procedural rather than substantive (rechtszekerheid). Regarding the second research problem, the study concludes that reconstructing the concept of ownership requires a paradigm shift from a passive administrative system to an active verification system by requiring the submission of a validated Vehicle Ownership Certificate (BPKB), supported by verified ownership documents, data interoperability between the AHU Online System and the Korlantas Polri database, and the implementation of a Mandatory Attachment feature to strengthen evidentiary value, thereby synchronizing substantive and formal legal truth while providing preventive legal protection for creditors, debtors, and Notaries