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Mortgaging the Skies? Legal Status of Apartment Ownership in South Sumatra’s Financial Practices

Indonesian Journal of Agrarian Law · Vol. 1 No. 1 (2024) · pp. 33–52

DOI
10.15294/jal.v1i1.31080
ISSN
3110-6633
Published
2024-03-30
Publisher
Universitas Negeri Semarang
Language
eng
License
creativecommons.org/licenses/by/4.0

Abstract

The development of vertical housing needs such as flats in big cities, including in the South Sumatra Province, encourages the importance of legal certainty over ownership and utilization of flat units in the national financing system. The Certificate of Ownership Rights for Flat Units (SHM Sarusun) is recognized as a property right that can be used as an object of debt collateral by being burdened with Mortgage Rights. This provision is regulated in Law Number 20 of 2011 concerning Flats and Law Number 4 of 1996 concerning Mortgage Rights (UUHT), and is an implementation of Article 51 of the Basic Agrarian Law (UUPA). Article 27 of the UUHT explicitly states that the imposition of collateral rights on flats and ownership rights on flat units is possible and legally valid. This study highlights the implementation of these provisions in South Sumatra, emphasizing how banks in this region utilize SHM Sarusun as credit collateral in the form of Flat Ownership Credit (KPRS). In practice, financial institutions consider aspects of ease of binding, certainty of value, ease of execution, as well as supervision and maintenance of collateral objects. Therefore, flats built on shared land, with legal individual ownership rights, have become an effective collateral alternative in the financing system in South Sumatra. This study shows that SHM Sarusun not only has a social function as a residence, but also has a strong and relevant economic value in supporting legal and guaranteed financing access.

Keywords

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40 authors · 140 co-authorship links · showing the 40 most connected

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Co-authorOrganisationJoint articles
Suhadi SuhadiAffiliation unknown5
Rodiyah RodiyahAffiliation unknown3
Ridwan ArifinAffiliation unknown3
Waspiah WaspiahAffiliation unknown3
Dani MuhtadaAffiliation unknown2
Muhammad Iqbal BaiquniAffiliation unknown2
Tegar Islami PutraAffiliation unknown2
Natasya Fitri DewantiAffiliation unknown2
Salisa Widyaning KinasihAffiliation unknown2
Siti Hafsyah IdrisAffiliation unknown2
Fezer TamasAffiliation unknown2
TRI ANDARI DAHLANAffiliation unknown2
Imam BaehaqieAffiliation unknown1
IsnaniAffiliation unknown1
Ardi Sirajudin RaufAffiliation unknown1
Lucky Andinna SantyokoAffiliation unknown1
Muhammad RidhaAffiliation unknown1
Ahsana NadiyyaAffiliation unknown1
Ajib Mukadirin AbsorAffiliation unknown1
Indah Sri UtariAffiliation unknown1
Akhmad JafarAffiliation unknown1
Siti Malaiha DewiAffiliation unknown1
Farida TuhareaAffiliation unknown1
Windiahsari WindiahsariAffiliation unknown1
Aprila NiravitaAffiliation unknown1
Muhammad Adymas Hikal FikriAffiliation unknown1
Chelsy Naristya UtomoAffiliation unknown1
Fatih HenningAffiliation unknown1
Aulia Hidayatul AmaliAffiliation unknown1
Nadiyah Meyliana PutriAffiliation unknown1
Dian LatifianiAffiliation unknown1
Dodik Setiawan Nur HeriyantoAffiliation unknown1
Valerio SebastianAffiliation unknown1
Souad Ahmed EzzeroualiAffiliation unknown1
Uche NnawuleziAffiliation unknown1
Mary-Ann Onoshioke AjayiAffiliation unknown1
Dina Apriliani RahayuAffiliation unknown1
Diyah Anggun FebriyantiAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/jal/oai, first harvested 6 Nov 2026, last seen 6 Nov 2026.
Original metadata (oai_dc) 
<oai_dc:dc xmlns="http://www.openarchives.org/OAI/2.0/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:oai_dc="http://www.openarchives.org/OAI/2.0/oai_dc/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/  http://www.openarchives.org/OAI/2.0/oai_dc.xsd">
	<dc:title xml:lang="en">Mortgaging the Skies? Legal Status of Apartment Ownership in South Sumatra’s Financial Practices</dc:title>
	<dc:creator xml:lang="en">Sakti, Bima Bayu Putra</dc:creator>
	<dc:creator xml:lang="en">Ramli, Asmarani</dc:creator>
	<dc:subject xml:lang="en">Apartment, Apartment Unit Ownership Rights, Mortgage Rights, South Sumatera, Material Collateral</dc:subject>
	<dc:description xml:lang="en">The development of vertical housing needs such as flats in big cities, including in the South Sumatra Province, encourages the importance of legal certainty over ownership and utilization of flat units in the national financing system. The Certificate of Ownership Rights for Flat Units (SHM Sarusun) is recognized as a property right that can be used as an object of debt collateral by being burdened with Mortgage Rights. This provision is regulated in Law Number 20 of 2011 concerning Flats and Law Number 4 of 1996 concerning Mortgage Rights (UUHT), and is an implementation of Article 51 of the Basic Agrarian Law (UUPA). Article 27 of the UUHT explicitly states that the imposition of collateral rights on flats and ownership rights on flat units is possible and legally valid. This study highlights the implementation of these provisions in South Sumatra, emphasizing how banks in this region utilize SHM Sarusun as credit collateral in the form of Flat Ownership Credit (KPRS). In practice, financial institutions consider aspects of ease of binding, certainty of value, ease of execution, as well as supervision and maintenance of collateral objects. Therefore, flats built on shared land, with legal individual ownership rights, have become an effective collateral alternative in the financing system in South Sumatra. This study shows that SHM Sarusun not only has a social function as a residence, but also has a strong and relevant economic value in supporting legal and guaranteed financing access.</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2024-03-30</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/jal/article/view/31080</dc:identifier>
	<dc:identifier>10.15294/jal.v1i1.31080</dc:identifier>
	<dc:source xml:lang="en">Indonesian Journal of Agrarian Law; Vol. 1 No. 1 (2024): March, 2024; 33-52</dc:source>
	<dc:source>3110-6633</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/jal/article/view/31080/6362</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2024 Bima Bayu Putra Sakti, Asmarani Ramli (Author)</dc:rights>
	<dc:rights xml:lang="en">https://creativecommons.org/licenses/by/4.0</dc:rights>
</oai_dc:dc>