Study On The Legal Issues Of The Asset Income Right Financing

The Asset Income Right has been widely active in the financing field in recent years.The transaction party has implemented the pledge and transfer of the future economic benefits of the assets in the name of income rights through agreements,and has created a combination with securitization,trust,internet finance and other products.Numerous income-origin financing projects.After the asset income right was created as the transaction target in the contract,the relevant entities greatly improved the financing efficiency of various assets and broadened the financing channels and methods.The enthusiasm of the rights-based financing model to achieve various transactions and financial purposes.Under this circumstance,since the "rights of income"itself has no clear laws and regulations to define its nature and content of rights,and the theoretical nature of the legal nature of the right to income assets has not been unified,this has led to the creation of practical activities.The rights of "revenue rights" are more and more abundant,and the types of original assets are more and more diverse,which further increases the difficulty of the concept of income rights,and also raises the controversy over whether the true connotation of income rights is a real right.In addition,the legal issues bring about by various types of innovative financing models based on the attributes and rights of the income rights itself,such as the pledge of income rights,the legality of transfer,the certainty of the realization of rights and the abuse in financial markets.The issue of creating the subject of the transaction in the name of the right to circumvent the legal provisions to achieve regulatory arbitrage has become a problem that needs to be solved in the current income-rights financing activities.In this paper,the first part of the text mainly combs the relevant legal norms and the status quo of financing activities,and puts forward the puzzlement about the connotation and nature of the right to proceed.The second part tries to analyze and clarify the legal nature and attributes of the income right based on the specific content of the right to proceed created by the contract,so as to clarify the real legal relationship represented by the income right in practice.The third part and the fourth part analyze the function and role of the income right in financing activities and the legal risks,transaction risks and regulatory arbitrage risks caused by its own attributes by sorting out the typical trading structure and core legal disputes of the income right.The fifth part tries to put forward the regulation of related risks from the perspective of the right of return itself on the basis of understanding of the right of return.In order to achieve the balance between innovation of financing activities and supervision and protection,suggestions should be made.