Research On The Priority Rule Of Competitive Deposit Of Chattel Mortgage Rights Under Registration Confrontation

The general rule for the priority of satisfaction in the case of multiple chattel mortgages on the same chattel is that the first registered mortgage has priority,and the unregistered mortgage is inferior to the registered mortgagee.However.Article 403 of the Civil Code stipulates that the chattel mortgage adopts the principle of opposition through registration.This means that the relative creditors have difficulty in fully identifying the rights burden and scope of the secured property of the debtor.When the chattel is not sufficient to repay all creditors,there is a competition of rights between the mortgage rights,and it is centered on the registration order of the mortgage rights to determine the order of repayment,combined with whether the third party is "in good faith",and the overall consideration of the timing of the establishment of the mortgage rights,seemingly giving different answers,as provided in Articles 403 and 414 of the Civil Code.This article,after raising the controversy over the competing claims of mortgage rights.starts from the relevant concepts of competing claims of chattel mortgages.In the first part,it sorts out the competing claims and public disclosure system of chattel mortgages.In the second part,it is pointed out that there are deficiencies in the system of the opposition principle of chattel mortgage registration,including the vagueness in the interpretation of"Third party in good faith" and the unclear scope of the opposition effect of unregistered mortgages.In the third part,we pointed out the academic controversies and judicial divergences regarding the priority rules in the competition of rights among chattel mortgages,as well as between general chattel mortgages and floating chattel mortgages.The fourth part compares the relevant systems of chattel mortgages between the common law system and the civil law system,and selectively draws on the strengthening measures in Japanese law,the registration system and the practice of determining the priority based on registration order in dealing with chattel mortgage priority disputes in the United States law.The fifth part of the article responds to the academic controversies and legal application issues raised earlier in the article by reviewing scholarly viewpoints and drawing on experiences from other jurisdictions.The author’s position on the priority disputes in mortgage competition and advocates for the"first-to-register" principle to resolve priority issues in mortgage competition.