Security Interests in Romanian Finance
By Szilaghi Law · Updated 28 October 2026 · General information, not legal advice
Romanian law gives lenders two main tools: the real estate mortgage, made by notarial deed and registered in the land book, and the movable mortgage, registered in AEGRM. Registered security is effective against third parties and can be enforced without a prior court judgment.
Real estate
Mortgage by notarial deed over land and buildings, registered in the land book.
Shares
Movable mortgage over shares, registered in AEGRM and, for SRLs, with the Trade Register.
Receivables and accounts
Movable mortgage over receivables and bank accounts, with notice to debtors and the account bank.
Equipment and inventory
Movable mortgage over present and future movable assets.
Guarantees
Corporate guarantees, letters of comfort and bank guarantees.
Enforcement
Enforcement through court bailiffs or, for movables, by the creditor directly in some cases.
- Notarial mortgage deed
- Land book registration
- AEGRM registrations
- Trade Register record for SRL shares
- Notices to account banks and debtors
- Corporate approvals and benefit analysis
- Legal opinion
- Missing registration. An unregistered mortgage does not have priority against third parties.
- Financial assistance. An SA cannot give security to finance the acquisition of its own shares, subject to limited exceptions.
- Insolvency. Enforcement is suspended once insolvency proceedings open.
Can one mortgage cover all assets of a Romanian company?
A movable mortgage can cover a universality of movable assets, but real estate needs a separate notarial mortgage.
How is priority decided?
By the time of registration in the land book or AEGRM.
Tell us the decision you need to make
Describe the transaction or regulatory issue, the Romanian assets involved and your timetable.
Consultation