Mortgagee Research

Hypothec fulfillment is the crucial part of hypothec system as well as the fundamental purpose of mortgage guarantee. Although our legislation has already set regulations on the hypothec fulfillment issue, there are still many problems when they are carried out into practice. The mortgagees, for example, have to pay a lot for their fulfillment of right, which therefore defers the crucial process of the whole system. How to make the hypothec fulfillment process more flexible and effective is the purpose of my writing this essay.This thesis contains four chapters.Chapter one is the general theory of hypothec fulfillment including the meaning of fulfillment and the qualifications of fulfillment. Taking hypothec fulfillment as the mortgagee's right or obligation is an issue about meaning of fulfillment. The further discussion is how to deal with the conflict between the mortgagee and other creditors without mortgage guarantee.Chapter two is about enactment of legislation concerning hypothec fulfillment. As to the legislation of hypothec fulfillment, two attitudes exist across the world:self-help and the judicial protectionism. Different nations take different legislative ways. The author makes a study on legislation in civil law system and common law system.Chapter three analyzes the format of hypothec fulfillment approaches, which is one of the chief parts of the thesis. Development of China's legislation about hypothec fulfillment is discussed. Regulation in China's Security Law cost too much since the creditors have to sue to be protected. In this fulfillment process, they have to pay much expense and wait for a long period for the final trial. Articl 195 in China's Property Law improve it. But it's regulation is too simple. This results in different understanding. The author maintains that it is necessary for us to establish non-litigation process, by which the cost of hypothec fulfillment could be cut down. The relative regulations should give detailed provisions. In order to realize the relative regulations in the "Property Law", some procedure rules should be modified.Chapter four is also the chief part of this thesis. In this part, the author issues the improvement of fulfillment methods. Auction, as an important method in hypothec fulfillment, is discussed in detail. Understanding on meaning of forced process of auctioning is different. The author agree on taking the forced process as a private one. Auction takes different effects on mortgagee, mortgager and buyer. The author make a study on these effects, which decides on distribution of property. The other methods includes sale and converting the mortgaged property into money.