Please enter a search term.

Please note:You can only obtain complete information if you indicate the place of residence, the place of business or the building project, depending on the procedure.

Pawnbroking: Extension of the pledge recovery period


In the pawnbroking business, pawnbrokers must realise the pledge no later than 6 months after the entry into force of the exploitation entitlement.

At the request of the pawnbroker to the competent authority, the deadline may be extended if there is an important reason.

The deadline will be extended for as long as the good cause is likely to exist. If prevented by a judicial or administrative measure, the period must be extended until the realisation of other pledges following the cancellation of the measure.

Requirements

Good cause exists if:

  • there is a conflict of obligations of the pawnbroker under the Pawnbroker Ordinance and other legal provisions
  • it is in the interest of the pledgee to postpone the realisation, e.g. if, for seasonal reasons, a more favourable result for the pledger can be achieved in the event of a later realisation despite the interest and costs still incurred
  • if there is a dispute concerning the ownership of the pledge or the creation of the lien

Which documents are required?

  • If applicable, identity card or passport
  • If applicable, pawnbroking licence
  • Documents documenting the important reason

What deadlines do I have to pay attention to?

The application should be made as soon as the good cause exists.

Technically approved by

Lower Saxony Ministry of Economic Affairs, Labour and Transport

Source: Serviceportal Niedersachsen (Portalverbund des Bundes und der Länder)