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Differences and similarities between chattel mortgage right and pledge

What are the differences and similarities between chattel mortgage right and pledge? Different contract and transfer of possession of the subject matter in different ways, pledge to achieve in different ways. So what are similarities and differences between mortgage and pledge?

  Mortgage is a creditor of the debtor or a third party as security of creditor's rights property without transfer of possession, when the debtor fails to perform when the property at a discount or by auction or sale of the property in the form of priority of claim. Mortgage features without transfer of possession of the mortgaged property, mortgage collateral by the debtor or a third party (the mortgagor) play. Mortgagee a right of priority of claim, does not fulfill the debt by the debtor as a precondition.

  pledge means that the debtor or a third person movable property or title transfer of creditor possession, using the property as a security for debt, when the debtor fails to fulfil the debt, the creditor is entitled to the property at a discount or auction or sale of the property, the priority of claim. Characteristics of the chattel mortgage: the debtor or a third party (pledgor) shall address his transfer of creditor possession of movable property, provision of movable property of the debtor or the third party is the owner of personal property, the exercise of rights to movable property shall be made by the debtor fails to perform as a precondition. Pledges include: chattel mortgage right and pledge.

chattel mortgage right and pledge case:

  (1) the contract is different. The subject of a pledge of tangible movable property; rights of the subject of a pledge for intangible rights.

  (2) transfer of possession of the subject matter in different ways. Pledge, the pledgor to the pledgee to delivery of the pledged property; rights of pledge, to securitized credit-secured,-secured debtor of the informed, share, stock, or intellectual property-secured, pledge registration according to law the transfer of possession.

  (3) pledge to achieve in different ways. Pledge pledge on movable property of discount or price of the auction or sale of priority of claim; the right to pledge, directly replacing the pledgor to the pledgee, exercise of the rights of the pledgor.

chattel mortgage right and pledge of the same:

  (1) mortgage for movable and immovable property of the subject matter; pledge for personal property and rights of the subject matter.

  (2) collateral without transfer of possession;-property transfer of possession.

  (3) the parties may voluntarily register with the mortgage, mortgage contracts came into effect since the date of the signing will open; parties do not have to deal with the registration of a pledge, the pledge contract is effective upon the delivery of the pledged property or title.

  (4) parties for mortgage registration, register for the appropriate management of the mortgage; stock, intellectual property pledge, the parties should take their appropriate regulatory agency for the registration of the pledge.

  (5) debt perform period expires, mortgage right people not by settlement can and mortgage people consultations to mortgage real discount or to auction, and sold the mortgage real of form, get price by claims, agreement not, can to court filed litigation; debt perform period expires, quality right people not by settlement of, can and out quality people agreement to quality real discount or law auction, and sold quality real to settlement claims.

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