1. The relationship between usufruct and security interest.
Property rights are an important right in civil law, and can be divided into usufruct rights and security rights according to the way the right holder uses the use value and exchange value of the thing. The usufructuary right and the security right are two important components of the property law, and they occupy a pivotal position in the property law system. This article aims to ** the concepts, characteristics and relationship between usufruct and security rights.
2. Overview of usufruct rights.
The usufructuary right refers to the exclusive right of possession, use, and income enjoyed by a non-owner of another person's property. The object of usufructuary rights includes movable and immovable property, such as land, houses, etc. The usufructuary right is characterized by the domination of the use value of the thing, and has the nature of independence, exclusivity and restriction of the property right. The owner of the usufructuary may possess, use and benefit from the usufruct, but shall not dispose of it. Common usufructuary rights include the right to contract and operate land, the right to use construction land, the right to use homesteads, easements, etc.
III. Overview of Security Interests.
A security interest refers to a limited property right created in a specific thing or right of the debtor or a third party for the purpose of ensuring the repayment of the debt. The object of a security interest may be movable, immovable or right. The characteristics of a security interest are that it is the domination of the exchange value of the thing, and it is subordinate, indivisible and subrogated in rem. The security interest holder may be repaid in priority for the collateral when the debtor fails to perform its obligations. Common security interests include mortgages, pledges, and liens.
4. The relationship between usufruct and security interest.
1) The difference between a usufructuary right and a security interest.
The content of the disposition is different: the usufructuary right is the control of the use value of the thing, while the security right is the control of the exchange value of the thing.
Independence is different: the usufruct right is independent and can exist independently;However, the security interest is subordinate and depends on the principal claim.
The way of realization is different: the way to realize the usufructuary right is through possession, use, income, etc.;The way in which the security interest is realized is through the priority right of repayment.
The scope of the subject matter is different: the subject matter of the usufruct right is wide, including movable and immovable property;The scope of the subject matter of the security interest is relatively narrow, mainly immovable property and some specific movable property.
2) The connection between the usufructuary right and the security interest.
They are all the right to control things: whether it is a usufructuary right or a security right, they are all rights to control things, which embodies the basic spirit of the property law.
Both have exclusivity: both usufruct and security rights are exclusive, that is, there cannot be two or more conflicting property rights on the same thing at the same time.
Can be transferred and inherited: whether it is a usufructuary right or a security right, it can be transferred and inherited, reflecting the circulation of real rights.
Registration is required: Both usufruct and security interests need to be registered in order to have legal effect, which reflects the principle of publicity of real rights.
V. Conclusions. The usufructuary right and the security right are two important rights in the property law, and they occupy a pivotal position in the property law system. This paper analyzes the usufruct right and the security right from the aspects of concept, characteristics and their relationship. Through the elaboration of this article, we can have a deeper understanding and understanding of these two important property law systems, and better use them in practice to protect our legitimate rights and interests.