Study Of The Maximum Amount Of The Mortgage System A Number Of Legal Issues

The limiting maximum mortgage (LMM), emerged as the times require, is distinguished for its unique design of anticipated limiting maximum amount, which breaks through the traditional concept that the mortgage must be exist concomitantly with its secured creditor's rights, and thus widely welcomed by the modern trading pattern. LMM is a kind of special mortgage that is used to secure the creditor's claims, which occur successively during a given period of time, and to the extent of the anticipated maximum amount that the mortgagee has priority in satisfying his claims.The LMM has two outstanding functions. Firstly, it sharply simplifies the process of trading, improves the efficiency of trading and reduces the cost of trading. Secondly, it greatly enhances the permanent and standing relationship between businessmen. Nevertheless, the LMM inevitably has its intrinsic limitation and disadvantage, which focuses on the monopolization of the mortgaged property by the mortgagee, and consequently brings other interested persons' legitimate rights into instability. Therefore, the law shall take all the above-mentioned issues, positive or negative, into consideration and then devise a balanced and rational legal framework of LMM in order to optimize its unique functions.The text is composed of seven chapters, covering the Summary of LMM, the Scope of the Secured Creditor's Rights of LMM, the Renovation of LMM, the Transfer of the Creditor's Rights & Debts Secured under LMM, the Termination of LMM, the Restrictions of LMM and the Review and Perfection of the Framework of LMM of China.