Expounding On The Public Trust Of Estate Registrar Of The Property Law

The public trust of real estate register aimed at resolving the conflict of interests between thetrue owner and bona fide third party when the register is wrong. Its core idea is in accordancewith the "objective good faith" standard to provide absolute protection for bona fide thirdparty. It is necessary for the Property Law to accept the idea of the public trust of real estateregister.The real estate register has the presumption of rights and public trust. In addition to the"dominant" function of assignment of the burden of proof,the presumption rules of register ofreal property register can also treat the register as legal authenticity, thus making it haseffectiveness the third party. Therefore we can say that the register presumption is the basis ofpublic trust, and the public trust is logical extension of the presumption of rights.In the real property register system, there is a controversy between the" absolute credibility"and" relative credibility ". Register of real property firstly emphasizes the essentialdifferences between the "absolute credibility system" and the system of bona fide acquisitionof chattel. As for the former, the the so-called register credibility system applied to objectivebona fide standards, and not related to the third party’s subjective attitude; however, the bonafide possession system emphasizes the goodwill of the third party, i.e., only when the thirdparty " do not know and should not know" the other party has no right can he obtain the realproperty.For this reason, the credibility of the register system and bona fide acquisition systemcan not be tied to the same rules of law. The public trust of real estate register has twostandards of goodwill——the subjective one and the objective one. When comes to the goodwill of the third party, the law requires that he "do not know and does not should know" theerror of the register. Relative credibility are constructed of real estate acquired in good faith,when considering the elements and the results of the application of the rules. Therefore, in thissense, the relative credibility of the register is actually advocating to the real estate acquisitionin good faith under the subjective good faith standard.The Choose of protection mechanisms of bona fide third party is not a logical inference problem, and has nothing to do with ethics,which is the result of trade-offs. This paper argues that the law should protect the bona fidethird party with "objective goodwill" standard, which is in line with the actual needs of thedevelopment of China’s real estate registration. Firstly, the credibility of the real propertyregister system can be reversed to promote the improvement of real estate registration systemin our country,and enhance the prestige of the register in the social life. Secondly, when theregister in most cases reflects the true ownership status, the credibility of the register systemcan give full play to its safety and efficiency value. Therefore, from a probabilistic sense, tosacrifice the real owner’s interests in very special circumstances also reflects the fairness andjustice in the civil law. Finally, the credibility of the register system can promote thecoordination between the legal provisions.In summary, the property law should distinguish the bona fide acquisition and the credibilityof register system. In operation, the "real estate” in article106of the Property Law should beexplained narrowly to such real property as easements and quasi-real property. At the sametime, according to article108of the Property Law, the "bona fide" third party only refers tothe "chattel assignee”. Then by way of judicial interpretation, we can establish the credibilityof the register system under the "objective bona fide"standard.