RECOVERY ASET DAERAH YANG DIJADIKAN AGUNAN OLEH PIHAK KETIGA DALAM PERJANJIAN KERJASAMA DENGAN BUMD

This paper examines the inability of local governments to recover land assets that have been included as capital for regional-owned enterprises (BUMD). The problem arises when the land is used as an object for collateral by a third party because BUMD is unable to fulfill the achievements in the agreement. This normative research uses a statutory, conceptual and case approach. As a result, the West Lombok Regional Government is still unable to recover regional assets that have been used as collateral by third parties on the basis of a cooperation agreement with BUMD. The land is the capital that is included by the Regional Government to BUMD. Land which becomes the object of capital participation does not automatically transfer to BUMD if the transfer mechanism is not passed and is considered permanent as a regional asset. However, if the Regional Government has approved the land pledge process to the Bank through the general meetings of shareholders (GMS) mechanism, the Government will be very powerless to carry out recovery. However, the regional government could be the losing party if at any time the BUMD cannot fulfill its achievements and the land is auctioned off by the Bank.