Improving the law on securing obligations by mortgage third party assets

Abstract

Mortgage of assets is one of the common measures of securing obligations, in which a mortgage relationship arises with the assets of a third party to ensure the performance of clearly existing obligations. However, there are currently many opinions that there is ambiguity between this relationship and the guarantee relationship. It would be normal if civil law clearly recorded mortgages with third-party assets to ensure the performance of obligations in the general legal regulations on mortgages. In contrast, issues of right require the mortgagee to repay the corresponding amount when the third party's assets are liquidated by the mortgagee; similarly for the right to receive remuneration upon completion of work; The relationship between the mortgagee and the mortgagee is unclear, and the rights and obligations of the mortgagee have not been recorded. Therefore, when a third party participates in this secured transaction, the author finds that the law does not have a sufficient basis to protect them. Therefore, finding out and making recommendations on securing obligations by mortgaging third party assets to protect the rights of parties (especially third parties) is necessary.