Study On Chattel Mortgage

The civil law countries usually stipulate that only real estate can be the object of mortgage while the chattel mortgage of this new model is the result of adapting to economic development, the emergence of this system has greatly expanded the scope of business financing and promoted the development of trades, which is becoming more and more important. However, the debate of chattel mortgage has never stopped, because chattel mortgage has changed the traditional model of real right, mostly about the conflict with the display system of the chattel possession. But the system of chattel mortgage in China is not so perfect and has a lot of defaults, such as demonstration of chattels, the scope of subject matters, the effect of mortgage and the competitive‐existed among security interests.This paper is based on the basic theory of guarantee system and uses the comparative research method, legal philosophy and interest analysis to research this questions.This paper is composed of four main parts. The first part is an overview of other countries and introduces the basic state of chattel mortgage in different law genealogy, including the civil law and Anglo‐American legal system. The basic view an legislation will provide adequate theoretical basis to draw the advanced system. The second part is about the problems of chattel mortgage public system and the solutions. The inner publication disadvantage of chattel mortgage cause the contradiction between the third person and the mortgagee, thus the author will propose the solutions of different countries to enhance the registration publicity system be increasing the auxiliary public methods. The third part is about the effect of chattel mortgage, including the effectiveness of mortgaged goods and the accessory thing, the effectiveness of the third person, the scope of guarantee claims and some suggestions. The last part introduces the competition of chattel real rights for security. The third person can’t observe whether there is a right for the no‐transfer possession on chattel mortgage because the mortgage still possesses the mortgaged chattel and can use it, thus it is possible to set up other security interest on the mortgaged chattel. This would result to conflicts among different obliges, but we can straighten out the security interest through combing the time of setting up the security interest with the subjective state of the parties.