Research On The Application Of Personal Property Theory In The Exemption Property System

Since the government issued a large number of entrepreneurship support policies in2014,personal investment has mushroomed and flourished.Under this background,it is imperative to establish a personal bankruptcy system.As a unique component of the personal bankruptcy system,the exemption property system has played an extremely important role in protecting the interests of the bankrupt debtor.This system can reserve the necessary survival and development costs for the debtor,enable the debtor to regain a new life through the personal bankruptcy system,and provide a strong institutional guarantee for the orderly liquidation of debt relations.The Standing Committee of Shenzhen Municipal People’s Congress voted and adopted the regulations on personal bankruptcy of Shenzhen Special Economic Zone in2020.Although the regulations are local regulations,they not only fill the legislative gap of China’s personal bankruptcy system to a certain extent,but also provide soil for the establishment and development of the exemption property system.Article 36 of the Regulations stipulates: "articles of special commemorative significance to the debtor shall be recognized as exempted property,but the amount of such exempted property shall not exceed 200000 yuan." The legislative intent of this provision is not to excessively damage the property interests of creditors on the basis of protecting the debtor’s personal rights,but in fact,it is to measure the personal interests attached to the thing by the economic value of the thing,which will cause great damage to the debtor’s personal interests and make it suffer the double blow of property and personal interests due to bankruptcy,This is contrary to the basic legislative purpose of the personal bankruptcy system.This paper takes the exemption property system as the research object,starts with the problems existing in the exemption property system in the regulations on personal bankruptcy of Shenzhen Special Economic Zone,and solves the conflicts existing in the current exemption property system by introducing a new theory of personality physics.Combined with the existing legislative experience and relevant judicial practice at home and abroad,this paper analyzes and demonstrates the shortcomings of the exemption property system,the necessity of introducing the personality property theory and the specific rules of the exemption of personality and things,and provides corresponding reasonable suggestions for improving the exemption property system.This paper will improve the exemption property system from the following aspects:setting the preconditions for the exemption of personality and things;Provide for the treatment of the coincidence of personal property and other exempted property;Establish special procedures to protect the interests of creditors;In combination with the provisions of the individual bankruptcy system,the debtor shall be subject to additional restrictions.Promote the application of personal property theory in the exemption property system from the content and procedure,hoping to play a positive role in the future national personal bankruptcy legislation.