The Legal Analysis On Securitization Of Rural Land

Our country is a large agricultural country, the quality of the agricultural development will directly affect the economics, social development and the life of the country. Since the reform and opening up, the agriculture has made remarkable achievements. However, since the1990s, agricultural development has met many problems, such as agricultural development became slower, farmers’income growth slowly, the gap between the urban and the rural became larger and larger. After we had accessed to the WTO, the agricultural products face the impact of foreign low-cost and high-quality products.How to change the pattern of the agricultural development, it’s the hot issue that many scholars considered. The most important problem is the low output efficiency of rural land, so we should ensure the rural land contract responsibility system, and deepen the rural land reform. I believe that securitization of rural land is the best way to solve the problem.In our country’s legal framework, the securitization of rural land refers to the right of land contractual management to securitization, the future benefits or the land value increment as the guarantee, then the rural can finance through the market. Securitization can active the rural market and deal with the problem of rural land is difficult to flow, it can finance for the agricultural development, and provide a more security investment product to the investors at the same time.But in our existing legal system, the implementation of the securitization of agricultural land has many obstacles, so we should learn from the developed countries, and with our countries conditions, we will improve the rural financial market, and the government should increase supervision of the rural areas, increase human resources development and training. At the same time, we need to complete the concept of "true sale","bankruptcy remote", special purpose institutions, credit guarantee and credit rating. We should also perfect the "Property Law","Land Management Law","Securities Law" and other relevant laws. In this paper, I combine the comparative law method and analysis research method together. There are five parts in this paper. First of all, I introduce the concept of the asset securitization and the real estate securitization, then I highlight the concept of the rural land securitization, the features and functions of securitization; In the second part, I analysis the necessary and feasible of securitization in rural land, through the law and economic analysis, I include that it is necessary and feasible to securitize in the agricultural land. The third part, I introduce the developed countries real estate-related legal system, mainly involving the United States, Germany, and Taiwan. In the fourth part, I described the legal framework for securitization, the securitization process of agricultural land, the departments, the rights and the obligations of the component departments, and the relevant laws and regulations.In the fifth part, I describe the barriers to implement the securitization in agricultural land, and find a way to deal with the problems.