Research On The Registration System Of Movable Property Financing Leas

Since it was introduced into China,movable property leasing has developed rapidly in China,and now it has become a major financing means that small and medium-sized enterprises can’t circumvent.However,due to the imperfect system construction,timely and effective registration has become an important way to plug loopholes and improve the financial leasing market environment.Registration can solve the problem that the lessee maliciously disposes of the leased property,resells it to a third party or invests in shares,which leads to the damage of the lessor’s rights and interests.At the same time,it provides a way for the third party to inquire,making the information of the leased property more transparent and the transaction more efficient.For a long time,the registration of financial leasing of movable property has been stipulated in a number of administrative regulations,lacking a superior law to regulate it.Therefore,in practice,many companies neglect to register the leased property in order to simplify the process and save time.The lessee often mortgages or resells the chattel leased by him to a third party without authorization.The occurrence of these problems hinders the further development of the financial leasing industry.On January 1,2021,the newly promulgated Civil Code of the People’s Republic of China stipulated the registration of financial leasing of movable property at the legal level for the first time.Article 745 states: "The lessor’s ownership of the leased property,without registration,may not oppose a bona fide third party." This clause clarifies the legal effect of the registration of financial leasing of movable property.The fly in the ointment is that it is not clear about the registration authority,registration procedure,registration content and the right sequence of the registered property.After investigating the registration systems of financial leasing of movable property in the United States,Quebec,Canada and Germany,this paper puts forward some countermeasures in combination with the legislative background and judicial status in China.It is pointed out that China should establish a unified registration system of chattel guarantee as soon as possible.In the procedure of registration,we should learn from Quebec,Canada,use unilateral application,and the registration authority adopts the form of examination;On the content of registration,we should learn from the United States and adopt the document registration system.In addition,considering the complicated characteristics of movable property,it is advisable to adopt the principle of human organization;On the issue of the right sequence,it should be made clear that the registered ownership of financial lease of movable property is subject to the same sequence rules as that of mortgage registration of movable property,and the unregistered ownership may not oppose the property owner of the lessor and specific creditors,such as the leaseholder and bankruptcy creditors.