What Is the Difference Between a Levy and a Lien?

The contrast of lien mortgage pledge is that the security property right is an important legal system, which is characterized by the transfer of the property used as the security for the creditor's rights. : Mortgage, pledge and lien.

Comparison of lien and pledge

Security interest

1. The properties that can be used for mortgage according to law are:

(1), buildings and other

1. Mortgage refers to the property used by the creditor to secure the debtor's right without transfer of possession by the debtor or a third party. When the debtor fails to perform the debt, the property is discounted or the price paid for the property is auctioned and sold first. Mortgage characteristics: Mortgage property is not transferred to possession, a mortgage is established, and the collateral is still occupied by the debtor or a third party (the mortgagor). The mortgagee's exercise of the right of priority is based on the premise that the debtor does not perform the debt.

2. Pledge means that the debtor or a third party transfers his movable property or the right certificate to the creditor for possession, and uses the property as a security for the creditor's right. When the debtor fails to perform the debt, the creditor has the right to discount the property or auction or sell the property. Be compensated. Characteristics of chattel pledge: The debtor or a third party (pledger) must transfer his chattel to the creditor for possession. The claimant or third party who provides chattel is the owner of chattel, and the pledge of chattel must be performed on the premise that the debtor does not perform the debt. Pledge includes: pledge of movable property and pledge of rights.

Differences between movable property pledges and rights pledges: (1) Different contractual targets. The object of pledge of movable property is tangible movable property; the object of pledge of rights is intangible right. (2) The transfer and possession of the subject matter are different. Movable property pledge, the pledger delivers the pledged property to the pledgee; the right pledge, which is pledged with securitized creditor's rights, the debtor can be notified of the pledge, the shares, stocks or intellectual property rights are pledged, and the pledge registration is transferred according to law Possess. (3) Different ways of realizing pledge. Movable property pledge, the pledge right is preferentially compensated for the discount of movable property or the price of auction or liquidation; for pledge of rights, the pledgee directly replaces the position of the pledged and exercises the rights of the pledged.

The difference between mortgage and pledge: (1), the subject of mortgage is movable and real property; the subject of pledge is movable and rights. (2). Mortgage does not transfer possession; pledged property transfer possession. (3) If the parties can voluntarily register the mortgage, the mortgage contract will take effect from the date of signing; if the parties do not need to register for the pledge, the pledge contract will take effect from the date of delivery of the pledge or the right certificate. (4) Where the parties handle mortgage registration, the registration department is the corresponding management department of the collateral; if the stock is pledged by intellectual property rights, the parties shall go through the pledge registration with their corresponding management agency. (5) Upon expiration of the debt performance period, if the mortgagee has not been paid off, the mortgagee may negotiate with the mortgagor to obtain a discount on the mortgaged property or to obtain the proceeds from the auction or sale of the mortgaged property. If the agreement fails, an action may be taken in a people's court. ; When the debt performance period expires and the pledgee has not been settled, the pledgee may agree with the pledgor to discount the pledged property or auction or sell the pledged property to settle the creditor's right.

Common points between mortgage and pledge: (1), both the mortgage and the pledge are security rights, (2), the mortgage and the pledge should be signed in the form of a mortgage contract or pledge contract, and (3) the contract must not stipulate When the mortgage performance period expires and the mortgage or pledge is not cleared, the ownership of the mortgage or pledge is transferred to the mortgagee or the pledgee. (4) Both the mortgage contract and the pledge contract are handled by the relevant department. According to the provisions of the registration, (5), both the mortgage and the pledge must be registered, the mortgage contract and the pledge contract will take effect from the date of registration, and (6), the mortgage and the pledge and their respective secured creditor rights will coexist and be eliminated simultaneously. . (7) Mortgage rights are extinguished due to the loss of the mortgaged property, and the compensation for the loss shall be used as the mortgaged property; pledge rights shall be extinguished due to the loss of the pledged property, and compensation for the loss shall be used as the pledged property. (8) The scope of the mortgage guarantee includes the main creditor's rights and interest, liquidated damages, damages and the cost of realizing the mortgage; the scope of the pledge guarantee includes the main creditor's rights and interest, liquidated damages, damages, pledged storage costs and The cost of realizing the pledge. (9) The portion of the mortgage that is discounted or auctioned or sold exceeds the creditor's right, and the shortfall is made up by the debtor; the portion of the pledged property that is discounted or auctioned or sold exceeds the creditor's right is owned by the pledger. The debtor makes up. (10) Regardless of the mortgage or pledge, when the debtor fails to perform the debt, the creditor has the priority to receive the right to discount the mortgaged property or the pledged property or the auction or sale price. (11) The transfer of the registered collateral by the mortgagor shall notify the mortgagee and inform the transferee that the transfer has been mortgaged. If the mortgagor fails to notify the mortgagee or notify the transferee, the transfer is invalid. ; Shares may not be transferred after being pledged, except for those that have been negotiated and agreed between the pledgee and the pledgee. After the pledge of property rights in trademarks, patents, and copyrights, the pledgor shall not be transferred, except as agreed between the pledgor and the pledgee, and the proceeds of the transfer shall be settled in advance. (12). Mortgages do not transfer possession; stocks are pledged to set up pledges. Due to the electronicization of the stock market, shares need not be transferred. (13) The mortgagor may set up a mortgage with the right to use state-owned land and the right to use the house according to law; the pledger may use money orders, checks, promissory notes, bonds, deposit certificates, warehouse receipts, bills of lading, which can be transferred according to law. Shares, stocks, and other rights such as trademark rights, patent rights, and property rights in copyright, which can be transferred according to law, are pledged.

Lien means that when the debtor does not perform the debt in accordance with the time limit agreed in the contract, the creditor has the right to lien the property in accordance with the law, discount or auction or sell the lien, and receive priority payment from the proceeds. The lien is the right of the creditor to the debtor that he has already possessed. Before the creditor's right cannot be settled as scheduled, the right to lien the movable property is used as security and to realize the creditor's right.

The difference between a lien and a pledge: (1). A lien is the right to detain others' movable property before the creditor's rights are settled. This right to possess and retain other people's movable property is prescribed by law (only limited to storage contracts, transportation contracts, processing Contract and execution contract), so the lien is a statutory security right; the pledge is generally agreed by the parties. (2) The lien holder's possession and detention of movable property is based on the debtor's failure to perform the agreed obligations as scheduled; the pledgee's possession of the pledge is based on the realization of the secured creditor's right. (3) For the realization of the lien, the lien holder must set a certain period for the debtor and notify the debtor to settle the debt within this period. When the debtor is not paying off, the lien can dispose of the lien and realize the claim; The realization of the pledge right is when the creditor's right has reached the redemption period without being paid off. After the pledgee notifies the pledgor, the pledger can dispose of the pledge and realize the creditor's right. (4) When the lien is possessed by another person, it cannot be returned to the restorer in accordance with the lien, but only in accordance with the right of possession; when the pledged property is in possession of another person, the pledgee may return the pledged property in accordance with the pledge. (5). The lien is extinguished due to the loss of the lien or due to the debtor providing a considerable guarantee; the pledge is extinguished due to the loss of the pledge and cannot be returned. (6) Lien refers to the obligee's possession of the debtor's movable property in accordance with the law due to the custody contract, transportation contract, and processing contract. Before the creditor's rights are not paid as scheduled, the lien is used as security for the creditor's right; pledge refers to the debtor or a third party Transfer his movable property or right to the creditor, and use the movable property or right as security for the creditor's right. (7) The lien is legal. The parties cannot create it arbitrarily, but the parties are allowed to agree to exclude the lien; the pledge is created by agreement of the parties, and there is no agreement to exclude the pledge.

Common points of liens and pledges: (1) Both liens and pledges are security rights. When the creditor's rights are not cleared, the liens or pledges are discounted or the price of auction or sale is given priority to be settled. . (2) The objects of liens and pledges are all movable property of the debtor or a third party. (3) The scope of the lien and pledge guarantee are all the main claims and their interest, liquidated damages, damages, storage costs and implementation costs. (4) Both the lienist and the pledgee shall keep the liens or pledges with the responsibility of a good manager. If the liens or the pledges are damaged or lost due to failure to fulfill their responsibilities, the lien or pledgee Should be liable for compensation. (5) The lien holder or pledgee is entitled to receive the lien or pledge. (6) Both the lien and the pledge exist together with their respective guaranteed creditor's rights, the creditor's rights are extinguished, and the liens and pledges are also extinguished. (7) The creditor owns the movable property delivered by the debtor. I do not know that the debtor has no right to dispose of the movable property. The creditor still obtains a lien or pledge to the movable property. (8) After the liens or pledged goods are discounted, auctioned, or sold, the debtor's portion of the price exceeding the amount of the creditor's right shall be owned by the debtor, and the shortfall shall be made up by the debtor. (9) Neither the lien nor the pledge is subject to the limitation of the statute of limitations of the secured creditor's right. After the statute of limitation of the lien or the pledge of the creditor's right secured, the lien and the pledgee can still Pledge exercise rights.

Ways and procedures for setting up mortgages, pledges and liens

1. To set up a mortgage, a mortgage contract should be concluded. The mortgage contract is in written form. The mortgage contract is of great significance to the realization of mortgage rights and the settlement of disputes.

2. Mortgage registration is a necessary way to obtain the credibility of the mortgage. It is conducive to maintaining the security of the transaction and protecting the legitimate rights and interests of the parties. For specific mortgaged property (the property listed in Article 42 of the Guarantee Law), the mortgage contract takes effect when the mortgage is registered; if the mortgage is registered voluntarily, the mortgage contract takes effect on the date of signing.

3. Mortgage registration of specific property must be registered with the corresponding registration department; otherwise, the mortgage contract is invalid. Voluntary registration of mortgaged property, which is mainly some daily necessities or property with little value, can be registered at the notary department where the mortgagor is located.

4. The general procedures for mortgage registration are: the parties apply, submit an application, the original or photocopy of the main contract text, mortgage contract text, mortgage ownership certificate and other relevant certification documents, and the registration authority reviews, registers, and files.

5. To set pledge right on money, money must be specified, including: special account, bank deposit and security deposit.

6. The pledgor and the pledgee shall conclude a pledge contract in writing. This contract is the premise of the pledge guarantee and the basis for handling the disputes between the parties. The pledge contract can be oral or written.

7. A pledge contract is a practical contract, and only when the parties transfer the pledge to the other party, the contract party takes effect. The bill pledge contract takes effect when it is established in accordance with the law. The establishment of the bill pledge right shall take effect when the pledgee records the word "pledge" in endorsement and delivers it to the pledger.

8. In order to exercise the lien, the debtor must be notified of the performance of its payment obligations. The grace period for the debtor to perform the debt must not be less than 2 months.