The retention of title constitutes the most significant form of credit insurance in the scope of loan goods, incorporating security interest and representing a means of security without possession and publicity. The Institute of Title, as we know it today, evolved only towards the end of the 19th Century, relatively late in the history of law. However, a preform of title, namely the lex commissoria, already existed in Roman law. The lex commissoria was taken over by Roman law in the time of reception, although in the meantime it became less important for two reasons: On the one hand, the long principle of cash purchase was still predominant, and therefore the demands for securing the purchase price was not very high. On the other hand, other means of security developed in the Middle Ages which were more practical, since the lex commissoria had almost entirely lost its property effect. Actually, the concept of reserved property has only been used in the ALR.The development until the ALR may certainly be the result of the increased security need, which has established through the emerging commerce as well as the developing economy.In Austria, the development of the reservation of title traces back to the 19th century.In comparison with the German BGB, the retention of title in the ABGB is not explicitly regulated by law due to the lack of a labor contract, which makes the development even more astonishing. In fact, the reservation of titel has become one of the most important means of collateral security and the lien, which is regulated by law, has been eclipsed. This phenomenon can be called a true particularity in the field of property law, as such a far-ranging development of law interpretation hardly ever pervades the history of law.To conclude, it is also important to mention that the lack of a labor contract causes possible problems as well as ambiguity. |