On the retroactive effect of chattel mortgage rights——interpretation of Article 406 of the Civil Code
Article 406 of"the Civil Code of the People's Republic of China"stipulates that the mortgagor can transfer the mortgaged property at will without the prior consent of the mortgagee,and can protect the interests of the mortgagee by establishing the retroactive effect of the mortgage right.This design of the system better bal-ances the interests of the mortgagor,mortgagee and transferee.However,the particularity of chattel mortgages is different from that of real estate mortgages,which leads to difficulties in realizing the retroactive effect of chattel mortgage rights in practice and affects the interests of the mortgagee.It is a practical problem that needs to be solved urgently that how chattel mortgage can better balance the interests of all parties and ensure the realization of the retroactive effect of mortgage rights on the basis of realizing the best use of the property and promoting transactions.In legislation and judicial practice,the relevant legal system for chattel mortgages should continue to be explored and improved.
real estate mortgagechattel mortgagetransfer contractretroactive effect of mortgage
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