购置价款抵押权之优先顺位效力解释论

Interpretating the Priority Effect of Purchase Money Mortgage

作为英美法系功能主义担保立法的产物,购置价款抵押权之优先顺位效力与我国法中的“先登记者优先”规则已生抵牾。其中,登记之“宽限期”作为购置价款抵押权优先顺位效力的外现,具有提高交易效率的制度价值。在权利竞存层面,击破浮动抵押权之“位势垄断”是购置价款抵押权的创设初衷。由于购置价款抵押权对购得标的物具有基础性贡献,其还可优先于在登记前已设立的固定抵押权与质权,但仍不得对抗购置前已登记的抵押权和标的物交付后成立的留置权。此外,为贯彻实质平等并促进融资,购置价款抵押权之间发生竞存时理应适用“比例清偿”规则。可见,购置价款抵押权实质上赋予了登记以溯及至标的物交付之时的对抗力,并进而形成了“层次化”的权利架构模式,但也对物权公示公信制度构成了事实上的突破。

As a product of functionalism guarantee legislation of Anglo-American law system,the priority effect of purchase money mortgage has contradicted the rule of“priority by registration”in Chinese law.The“grace period”of registration,as the reflection of the priority effect of purchase money mortgage,has institutional value of improving transaction efficiency and of guaranteeing transaction security to a certain extent.In terms of right competition,breaking the“potential monopoly”of floating mortgage is the original intention of purchase money mortgage.Purchase money mortgage has a fundamental contribution to the purchased subject matter,and it can take precedence over fixed mortgage and pledge established before registration,but it still cannot oppose the mortgage registered before purchase and the lien established after the delivery of the subject matter.In addition,in order to implement substantive equality and promote financing,the“proportional liquidation”rule should be applied when there is a competition between mortgage rights of purchase money.Therefore,purchase money mortgage essentially endows registration with the antagonism of tracing back to delivery time of the subject matter,and further forms a“hierarchical”right structure model,but meanwhile it also constitutes a breakthrough in the real right publicity and public trust system.