购置款抵押权规制研究

Study on Regulation of Purchase Money Security Interest

摘要: 为回应金融市场企业融资需求，《民法典》新增了购置款抵押权制度。限制浮动抵押的垄断效力是法律确立购置款抵押制度的历史动机，购置款抵押权制度有利于拓宽交易融资渠道，促进和保障交易，是各方当事人潜在之合意，具有正当性。基于购置款抵押权突破了抵押的一般顺位规则，应当明确其适用条件：抵押物为有形动产，价款债权包含实现购置款抵押权的费用且和抵押物存在因果关系，需抵押物现实交付后十日内办理抵押登记。购置款抵押权具有超级优先效力，优于在先浮动抵押和固定担保，但是不能对抗该抵押物买卖之前抵押物上已经存在的抵押权、留置权以及建设工程价款优先受偿权，当出现多个购置款抵押权并存时，应该按照登记时间确定顺位。

Abstract: In order to respond to the financing needs of enterprises in the financial market, The Civil Code has added the purchase money security interest. Historically, purchase money security interest was created to limit the effectiveness of floating mortgages. The purchase money security interest is conducive to broadening the financing channels of transactions, promoting and protecting transactions, and it is the potential agreement of all parties. Based on the fact that purchase money security interest breaks through the general sequence rule of mortgage, its applicable conditions should be clarified: Collateral is tangible movable property, the claim of the price includes the cost of realizing the purchase money security interest and has a causal relationship with the collateral, and the collateral registration should be processed within 10 days after the actual delivery of the subject matter. The purchase money security interest has super priority effect, which is superior to the floating mortgage and fixed guarantee in advance. However, it cannot fight against the mortgage right existing in the mortgaged property before the transfer of the collateral, the lien and the priority of the construction project price. When multiple purchase money security interests coexist, the priority should be determined according to the registration time.