Comments on Article 399 of Civil Code of People's Republic of China(Property Prohibited from Mortgage)
Article 399 of the Civil Code is about property that is prohibited from being mortgaged.The first three i-tems of this article belong to the mandatory provisions in the first paragraph of Article 153 of the Civil Code.The legal effect of violation is that the mortgage contract is invalid and the mortgage right is not established.Item 3 of this Article shall be interpreted in a limited way to allow non-profit legal persons for public welfare purposes to use newly purchased public welfare facilities as mortgageable property.The fourth item of this ar-ticle is a warning provision on the right to dispose of the mortgaging property.In case of violation of this item,the rule of no right to dispose shall apply.In the interpretation of item 5 of this article,the relative prohibi-tion of disposal shall be adopted.The mortgage contract in violation of this item is valid,and the registration organ shall register the mortgage,and the corresponding disposal act is relatively invalid,that is,it is invalid only for the person applying for execution.The exercise of the mortgage shall be premised on the sealing up,distraining or lifting of regulatory measures.When the measures of sealing up,distraining or supervision are not publicized,they shall not confront the mortgagee in good faith.In this case,the mortgagee may confront the applicant for execution.In addition to the preceding three items listed in this article,the property prohibi-ted from mortgaged shall also include other types prescribed by laws and administrative regulations.
Mortgaged PropertyMortgage ProhibitionRight to Use a House SitePublic Welfare FacilitiesSealing
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