Study On Property Exemption System Of Individual Bankruptcy

At present,there is still a lack of legislative guidance at the national level in the field of personal bankruptcy in China.As a new phenomenon in China,the boundaries of many systems still have ambiguity.The exemption property system is an important system that distinguishes personal bankruptcy law from enterprise bankruptcy law.Its purpose is to provide relief for "honest but unfortunate" debtors.This system not only maintains a balance of interests between creditors and debtors,This reflects the transition of the legislative purpose of the bankruptcy law from a creditor based approach to a social interest based approach,and is also a manifestation of the rich connotations of human rights in the new era.Therefore,the implementation of the Personal Bankruptcy Law must clarify the scope of exempt property and improve its related content.This article first starts with the concept of exempt property,clarifies the concept of exempt property,distinguishes it from similar concepts,and clarifies the necessity of this system.Secondly,this article analyzes the problems exposed in China’s practice by analyzing local legislation and court regulations in the exploration of personal bankruptcy,and studies the provisions in relevant documents such as the Shenzhen Special Economic Zone Personal Bankruptcy Regulations,Clarify that there are still issues with the current exemption property system in China,such as incomplete legislative principles,unclear property items,and unclear disposal regulations.Based on domestic and foreign judicial practices as well as China’s judicial practice,propose solutions to these issues,namely improving legislative principles from four aspects:reasonable protection,elastic protection,final resolution,and the principle of public order and good customs.Clarify the exemption property items from the perspectives of survival,development,and spiritual aspects,Select a suitable construction model for China based on extraterritorial practices,and clarify disposal regulations by properly handling the priority of exempted property and prohibiting the abandonment of exempted property.This aims to balance the interests of both creditors and debtors,standardize the scope of exempted property,improve the exemption property system,provide guidance for bankrupt debtors to apply for exemption from property,and provide useful reference for the legislation of personal bankruptcy law.