The Legal Effect Of Lost Property

As the old saying goes, there is even a loss for the wise man who has thought twice. In the current quick and easy society, it is pretty common that someone loses something in the daily life. However, in Chinese law, the only provisions on lost property are Article107which about the processing rules.of circulation and the articles between Article109and Article113about the processing rules of pick of in the Property Law, which indicates the lack of attention on lost property in Chinese legal system. The legal consequences of the acquisition of lost property,mainly involves the issue of the rights and duties between the lost and the finder, and the right of the third person who obtains lost property in the circulation. Two circumstances have been regulated in Chinese law. The first one is that the finder returns the lost property, or submits this property to the legal authority when the owner could not be found. If the owner still does not appear eventually, the state is going to enjoy the proprietorship. The other situation is that the assignee could acquire the possession by timeliness or business purchasing behaviour when lost property has been transferred. Based on what has been mentioned, it is concluded that Chinese legal system denies that the finder has the right of obtaining the compensation or the ownership of lost property with conditions, which inherits the Russian Civil Code and shows the respect to the traditional moral philosophy of returning the lost. Nevertheless, in the circulation of lost property, unclear provisions on the possession of lost property lead to the uncertainty operation rights in the practice, which is not conducive to the transaction. Furthermore, with peoples’increasing attention on the spiritual and personal interests, the personality property emerges. Once the lost property is defined as the personality property, our current legal process would very like to result in the unfairness.This essay carry out the malpractice of acquisition of lost property from the consistency between rights and obligations,and from full use of substances and from the essence of economic man’s view of civil law.More over expiate affirm of finder’s compensation and conditional ownership is in accordance with the traditional moral from the essential of not to pocket the money one has picked up.Moreover, in accordance with legal stipulations on different kinds of deadlines, this essay proposes that the time limit for the finder’s ownership with conditions is one year,.And to supervise and urge the finder give back the lost property in a positive way and avoid the lost property enterring the market circulation after transferred,advice the state bears the responsibility to set a convenient matching system for lost property by two means of guidance and punishment, and set the lost property real time matching system convenient in order to recover the legal relationship in lost property as soon as possible.To analyse the legal relationship after the lost property has been transferred,the essay interpreted the predicament in reality of the Article107of Property Law,and from the cause of Bona Fide Acquisition and the purpose of Bona Fide Acquisition,and take advantage of Hermeneutics and take advantage of the essential attribute of lost property to set forth the rationaty of lost property to apply Bona Fide Acquisition,and finally come to conclusion which lost property should apply Bona Fide Acquisition,and the third person in good faith can be the owner of the lost property in the situation of the lost propety has been transferred.Last but not the least, this essay would like to elaborate relevant content on the personality property, and to state the non-application of bona fide acquisition system on personality property,from the essencial characteristic, the scope of application of property law,and the special protection on personality property to come to the conclusion that personality property should not apply to Bona Fide Acquisition,so as to analyse legal consequences of the acquisition and transfer of the lost personality property.