Regardless of the perspective of the evolutionary history,or the analysis of types of the existing secured transactions,there are two types of structure in secured transactions:one is to transfer the title itself in the purpose of secured transactions,which called"right-transferred security property rights".The other is to establish property rights of secured transactions,which named as"right-established security property rights".From the perspective of the evolution,as the advanced form,the"right-established security property rights"has completely replaced"right-transferred security property rights"in civil codes of modern civil systems.From the analysis of types of the exist secured transactions,those secured transactions legal systems that mixed"right-transferred security property rights"after codification are due to the shortcomings of personal property security legislation.China's Civil Code not only provides the provisions of ultimate personal property security,but also introduces"purchase money security interests".Thus,the personal property security system in China's Civil Code has been completed and the"right-transferred security property rights"has become redundant.Therefore,China's Civil Code,which provides both"right-established security property rights"and"right-transferred security property rights",put forward new requirements for its current judicial interpretation and future legislative improvement.
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