Research On Priority Order Of Realization Of Security Interests

Security Interests have a financing function, which can make the enterprise get the production funds smoothly. It has become an important means of social finance. Security Interests can make the best use of the property. In theory, Security Interests can bring obvious benefits, promote the capital into the market and accelerate the development of economy. So Security Interests become the best warranty system. Because of it, Security Interests creditors and debtors are inclined to choose Security Interests. And as a result, simultaneous existence occurs between Security Interests. It is very important to determine the priority order of realization of Security Interests. Although laws have provisions and scholars doing some deep research, they all have some shortages. They are limited in the discussion of specific situations, and they are short of systemic analyzations. According to related law and academic views, this thesis analyzes the question of the priority order of realization of Security Interests fully and deeply.This article has four parts:The first part mainly illustrates the meanings of the priority order of realization of Security Interests and the cause of this question. Based on analyzing the shortages of the related legislation, it clarifies the necessity of the research on the priority order of realization of Security Interests. The second part mainly analyzes the priority order of realization of Security Interests in different conditions when Security Interests exist simultaneously. It includes two cases: simultaneous existence between the same kind of Security Interests and simultaneous existence between the different kinds of Security Interests. The former includes simultaneous existence between Mortgage Right, simultaneous existence between Pledge Right and simultaneous existence between Lien Right. The latter contains simultaneous existence between Mortgage Right and Pledge Right, simultaneous existence between Mortgage Right and Lien Right and simultaneous existence between Pledge Right and Lien Right, also including the relationship between Preference Right and Mortgage Right, Lien Right, Lien Right. The third part summarizes six principles of solving the question of the priority order of realization of Security Interests. The fourth part offers some legislative proposals about the question.By comparing our national related legislation with foreign legislation, the shortages of our national legislation are found. Combining specific conditions and practices of our country, legislative proposals suited to our national conditions are offered, which is helpful in resolving the conflicts of simultaneous existence between Security Interests, bring the function of Security Interests into full play and making the market transactions go smoothly.