动产抵押后的抵押物转让效力

动产抵押物已登记但抵押物转让不以登记为要件时,转让抵押物的效力涉及两类人的利益。在对善意受让人与抵押权人的两种利益进行比较的基础上,应保护善意受让人;同时为维护抵押权人利益,在制度构造上应以物上代位取代物上追及,并强化抵押人的通知义务,以达致理论上的完善与实践中的可操作相一致。

On the Transferring Effect of Movable Estate Under Mortgage

When the transfer needn't register,the transferring effect of movable estate under mortgage concerns two subjects' benefit.Comparing the benefit of bona fide transferee with that of the mortgagee,the writer holds that the bona fide transferee should be protected.At the same time ,in order to protect the mortgagee's benefit,the subrogation in rem should take the place of the recourse in rem,and it should be strengthened for the mortgagor to give notice so as to make the practical operability keep up with the theoretical perfection.