Legal Studies On Asset "True Sale" About Securitization

Asset "true sale" about securitization is always the difficult problem that puzzle securitization in china. It has extremely important meaning to ruling the legal problem about asset "true sale", and which can develop securitization to practise. This paper elaborated the legal principle of "true sale" and the major legal problem that related securitization by comparison method. On this foundation, the author put forward his own suggestion about perfecting legal system for Chinese asset "true sale".The whole paper is divided into 4 parts as follows:Chapter one:Introduction to the securitization and the pattern as well as the related concept of "true sale", then discussing on the affection on the research meaning and studying method about "true sale". Chapter two:Analysis of the legal principle of asset "true sale". The course of "true sale" can be regarded as certain legal relation from legal viewpoint: In subject aspect, it include sponsor and SPV, in object aspect, it include securitizational asset, and on the content of legal relation, it include asset sale agreement. on the value of "true sale", this paper thinks that it has remedied traditional assure that without efficiency, and it is protruding to show its existent value. On the topic of the legal nature about "true sale", theoretical circle has dispute always, the main viewpoint are non-complete ownership and assure. This paper thinks that asset "true sale" should be position on the business that attached condition in nature. Chapter three: Discussion on the major legal problem about foreign "true sale" that concerned with securitization. By this means, offer the reference to our country that build legal system about "true sale". Chapter four: putting forward the imagination and thought for Chinese establishment of legal system about "true sale". In this part, paper first introduced the necessariness and possibility in China to establishing the legal system about "true sale". On this foundation, analysing the obstacle on establishment the legal system about "true sale". According to the obstacle that mentioned preceding , Paper builds corresponding legal system and puts forward a lot of suggestion : In establishing the standard of "true sale", paper puts forward the thought of judicial hatching legislation, establishment the legal standard of "true sale"step by step. Then this paper aims at the recourse, consolidation and justicial negativity, transfer the creditor's rights attached to highest volume mortgage contract as well as the legal proceed about "true sale" etc.