Constitutum Possessorium

The rapid economic development proposes high requirements on the efficiencyof transaction and minimum cost of transaction and constitumtum possessorium isborne upon such urgent demands. Under constitutum possessorium, parties maytransfer the ownership merely upon agreement instead of delivery. Since suchinvisible ownership transfer couldn’t be recognized by public, many scholars raiseobjection against this delivery form. This paper will discuss such argument in therespect of publication effect and bona fide acquisition, and also reflects theeffectiveness time of constitutum possessorium. The paper consists of four chapters,and the main points are as follows:As for the Chapter one, this paper mainly discusses the applicable situation ofconstitutum possessorium. It contributes a lot to the financing that could be found inalienation guarantee and sale-lease back. In addition, it offers a new approach forsmall and medium enterprises, in this case, which could not only afford to newproduction equipment but also could maintain the consistent production.As for the Chapter two, the paper demonstrates the non-publication nature ofconstitutum possessorium in a brand-new respect. This chapter clarifies the subject ofpublication of property right is the status of property right instead of change ofproperty right. The publication shall be in public，easy and convenient manner.However, delivery is an instantaneous movement which could hardly be recognizedby the public. Also, in the practical term, it hardly publicizes property right. As for the Chapter three, the paper analyzes the relationship between consitutumpossessorium and bona fide aquisition. The paper redefines the constitutiverequirements and proposes the essence of constitutum possessorium. Then the papercomments on the viewpoints that deny constitutum possessorium is applicable to bonafide aquisition, and holds that such viewpoints fail to recognize the difference ofbetween the function of instantaneous delivery and publication of continuouspossession. In addition, the paper demonstrates the applicability of consitutumpossessorium for bona fide acquisition.As for Chapter four, the paper further reveals the constitutum possessrium rulesin china kills the autonomy of will, which is contrary to specific subject required byproperty right, is similar to the offset system, and is accompanied with risks. Thechapter states the effective time of constitutm possessrium under specific situations inthe aforesaid respects.