Research On Free Property In Personal Bankruptcy System

Entering the new era,China’s economic development has also entered a period of speed-up shifts and structural transformations,but the number and efficiency of market players’ exits cannot match the demand for accelerated clearance.In addition,since the reform and opening up,the investment and consumption concepts of Chinese residents have changed dramatically.Cases of company shareholders and executives who have assumed unlimited joint and several liabilities have emerged endlessly,and the level of residents’ debt has been rising.Due to the lack of a reasonable liability exemption mechanism in our country,the issue of personal debt has triggered a series of violent collections and debtors’ suicide.The "Half Bankruptcy Law" has seriously failed to apply the current economic environment and personal bankruptcy needs.The Party Central Committee and the State Council attach great importance to the withdrawal system of market entities,and it is clear to step by step to establish a personal bankruptcy system.The combination of personal bankruptcy system and corporate bankruptcy system can constitute a real bankruptcy law.Among them,the biggest difference between the personal bankruptcy system and the corporate bankruptcy system is the free property system.Individual debtors enter bankruptcy proceedings until the end of the bankruptcy proceedings,and their subject qualifications will not disappear.However,in the event of corporate bankruptcy,especially the liquidation of a corporate bankruptcy,the subject qualifications of their legal persons will disappear.Therefore,the free property system is the most distinctive system design in the personal bankruptcy system.The design of the free property system is based on guaranteeing the debtor’s right to life and development.For this reason,there are different arguments in the academic world:First,there is nothing wrong with providing the necessary basic living assets for personal bankruptcy debtors,but whether free property should protect the debtor’s development rights.In this way,the creditor’s compensation ratio is directly reduced How should the debtor’s development rights be balanced with the creditor’s rights and benefits?Secondly,if free property should guarantee the debtor’s right to subsistence and development,then what kind of standard of living should be guaranteed,that is,how to determine the limit of the right to an adequate standard of living.This article takes the scope of free property as the research object,and focuses on the basic principles of determining free property and the types of free property.The determination of free property is a dynamic change process,and it is impossible to"size across the board." The determination of free property in different regions and at different times must be closely related to the development of the times,economic level and living conditions.Therefore,when determining the scope of free property.four basic principles must be strictly followed,then the free property is classified by type,and the types of property owned by the debtor are compared and classified.In the end,the free property of the debtor in an individual bankruptcy case can only be determined.In addition,the behavior of the debtor,which is closely related to free property,is also an important factor in the identification of free property,and it is also possible that the debtor has a great possibility of transferring and defrauding property.Therefore,the behavior of the debtor in disposing of free property must be determined.If it proves that the debtor has intent to defraud or transfer property,the court must actively exercise the right of revocation to ensure the integrity of the bankruptcy consortium.Therefore,taking free property as the research object captures the essence of personal bankruptcy legislation and has strong practical significance.The free property system is an important part of the study of personal bankruptcy.Today,the trial of personal bankruptcy legislation has begun.The study of the free property system will help to accelerate the acceleration of the entire personal bankruptcy legislation.