Research On The Exempt Property System In Personal Bankruptcy

Under the background of the era of mass entrepreneurship and innovation,China has optimized the business environment through great various methods and means,and personal investment has made considerable progress under this background.However,Chinese current economic laws and regulations lack strong protection of personal credit consumption,and the bankruptcy law has no provisions on personal bankruptcy,which contains significant risks.As a part of the personal bankruptcy system,the exemption property system is not only an important part of the personal bankruptcy system,but also a unique system in personal bankruptcy.The corporate legal person will disappear after the completion of bankruptcy proceedings,while the individual will continue to exist and even seek development after bankruptcy.The emergence of the exemption property system is based on the different characteristics of natural persons and legal persons.The existence of the exemption property system can preserve the property necessary for the survival of the bankrupt debtor,and can also help the debtor to get out of the influence of bankruptcy as soon as possible,so that the personal bankruptcy system can truly achieve its purpose of protecting honest and unfortunate people.At present,the provisions on exempt property in Chinese legislation only exists in the Regulations on Personal Bankruptcy of Shenzhen Special Economic Zone which was voted by the Standing Committee of the Shenzhen People’s Congress in August 2020.The emergence of this regulation makes up for the gaps in personal bankruptcy,and the emergence of personal bankruptcy will expand the scope of application of the bankruptcy law,which also provides conditions for the application and development of the exempt property system.The research of the system of exempt property needs to be carried out in the bankruptcy law system.It is of far-reaching practical significance to study the exemption property system in personal bankruptcy.First,it is an effective measure to safeguard basic human rights.In a civilized human society,no matter what the status of individual is different,everyone should enjoy the most basic rights,including the right to equality,the right to survival and development,etc.The exemption of property system can effectively protect the debtor’s right to survival and development from being affected in personal bankruptcy,which is an important development of human rights within the scope of personal bankruptcy law.Secondly,in the exemption property system,the types and duration of the exemption property should be reasonably limited to prevent the debtor from evading the debt maliciously by using this system,to protect the legitimate creditor’s rights from infringement,and to effectively balance the balance the relationship between the creditor and debtor.Finally,the exemption of property system can provide institutional support for economic development and social stability,effectively solve the life and work problems of the debtors and their families after bankruptcy,and avoid them becoming homeless and hungry,which to a large extent can reduce the number of individuals who commit crimes after bankruptcy and greatly reduce social instability.At the same time,the exemption property system is a further improvement of the withdrawal mechanism of market participants,so that individuals can be more secure in investment,entrepreneurship and credit consumption,which are important means to promote economic development.Thus it can be seen that the exemption of property system has a positive role in maintaining social stability and promoting economic development,and it is also of great significance to enrich and develop the theory and practice of personal bankruptcy system in China.The introduction part of this article mainly introduces the background,significance,domestic and foreign research status and research methods of the research on the exempt property system.In addition to the introduction and conclusion,this article is divided into the following five parts:The first part is an overview of the system of personal bankruptcy and exempt property system,first of all,the concept of personal bankruptcy.The second is an overview of the exempt property system,including the introduction o9 f the development history of exempt property,the introduction of the development history of exempt property,the introduction to the specific connotation of exempt property system,this part includes the concept of exempt property,the characteristics of exempted property and the types of exempted property.And the last part is a brief discrimination between exempt property and other similar property,It includes the distinction between exempt property and exempt property in enforcement,exempt property and recovered property.The second part demonstrates the necessity and feasibility of the establishment of the exempt property system in our country.On the necessity of the construction of the exemption property system,firstly the exemption property is a necessary means to protect the debtor’s basic right of survival and development after bankruptcy,and secondly,whether for debtors or creditors,the exemption property system is an important means to balance the debt relationship and protect the interests of both sides.Finally,from the perspective of social benefits,exempt property helps to maintain fairness,justice and social stability,In terms of feasibility,first of all,the social security system has been initially established and with the implementation of Shenzhen Bankruptcy Regulations,the exempt property system has already had a practical basis;secondly,the rapid development of individual investment and the gradual construction of the credit system make the implementation of this system possible;finally,the current situation that there are no targeted measures in judicial practice to solve the problems such as "difficulty in execution" in the bankruptcy debt relationship needs to be improved by this system.The third part is the investigation and reference of foreign exempt property system,foreign research and practice in the field of exempt property system has a first-mover advantage compared with domestic ones.The construction of exempt property systems in Chinese will inevitably be inseparable from the implementation of exempt property system abroad.The country study of the system,through the investigation of the civil law system countries and the common law countries’ exempt property system,find out the beneficial experience for our country to implement the system of exempt property in the future.The fourth part mainly introduces the difficulties in the process of constructing the exempt property system in China.First of all,the traditional concept of debt liquidation is deeply rooted in our country,which makes the ideological basis for the exemption of property system to be widely accepted by ordinary people in China is still relatively weak.At the same time,the implementation of the exemption property system will lead to the occupation of some judicial resources,which will inevitably aggravate the current situation of judicial resources shortage in China.Finally,judging from the practice of the exemption property system in personal bankruptcy in various countries,the exemption property system will inevitably produce new problems in the process of implementation,which is a problem that China has never been exposed to,and to effectively solve such problems,we need to conduct more legal research and accumulate a large number of cases in judicial practice.The fifth part is the assumption of the construction of the exempt property system in China,first,the basic principles that should be followed when establishing the exempt property system;then,it is about the procedure of the exercise of the system of exempt property,including the subject of applying for the right of exempt property,the specific procedure of starting the system of exempt property and the way to make it effective and the effect after it comes into effect;then it is about how to deal with the objection of the parties after the ruling of exempt property.The last part is about other issues related to exempt property.